Volkswagen’s trucks division open to purchase most of the stake in Navistar

by SpeedLux
Volkswagen trucks

Volkswagen is open to purchasing a majority stake in U.S. truckmaker Navistar it stated on Monday, as the German automaker plans its trucks business for a possible stock market listing that could help raise funds to broaden.

In 2016, Volkswagen Truck & Bus acquired a 16.9 percent stake in Navistar International and last week joined forces with Toyota’s Hino Motors as it looks to contend more effectively with worldwide truck market leaders Daimler and Volvo.

Volkswagen plans to convert its trucks division, which consist of the Scania and MAN brands and a Brazil-based commercial vehicles business, into a public limited company as a beginning to a possible stock market listing.

“(Taking over Navistar) would make sense at some point,” stated Matthias Gruendler, the finance chief of VW truck and bus.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.