A German court has ordered Volkswagen’s truck unit MAN to pay 300 million euros ($350 million) to shareholders in the unit, putting a long-running court battle over its buyout offer to an end. Minority shareholders in MAN will get a gross yearly payment of 5.50 euros per share, which is 2.20 euros more compared to
Volkswagen’s heavy-trucks brand MAN stated it will spend over 2.4 billion euros ($2.8 billion) through 2020 on upgrading plants in Europe, Asia and Africa as part of efforts to overhaul production and increase revenue. Parent Volkswagen has been constructing a global trucks business to take on competitors like Daimler and Volvo by incorporating its MAN
Volkswagen‘s diesel emissions scandal led CEO Matthias Mueller to make thorough evaluation of the automaker’s strategies. As per Bloomberg, Mueller is studying a move away from group-wide development, the future function of EVs, and how the automaker’s 12 brands and side operations suit the whole. Mueller will describe the plan to the media on Thursday.