Volkswagen creates integrated commercial vehicles group

6 May 2015

Volkswagen announced the creation of an integrated commercial vehicles group—Truck & Bus GmbH—that will become a holding company for the mid- and heavy-duty MAN and Scania commercial vehicle brands. The move is intended to strengthen VW’s global heavy truck business, to compete with Daimler AG and Volvo AB.

Truck & Bus GmbH will steer and coordinate cooperation among MAN Truck & Bus AG, MAN Latin America and Scania AB. The Volkswagen’s controlling stakes in Scania AB and in MAN SE will be transferred to Truck & Bus GmbH.

Truck & Bus GmbH will establish processes specific to the commercial vehicles business—said Volkswagen—thus leveraging the full synergy potential between the brands. The company will be led by Andreas Renschler, member of the Board of Management of Volkswagen Aktiengesellschaft. The Supervisory Board, composed on a parity basis, will be chaired by Martin Winterkorn, CEO of Volkswagen Aktiengesellschaft: “MAN and Scania are strong, successful brands with a global reputation. Our clear objective is to become a global champion in trucks and buses, too, and together with the workforce to take this business to the top of the industry.”

“Our goal is to take the commercial vehicles holding to the top of our industry in terms of profitability, technologies and, above all, customer satisfaction. Bringing together our commercial vehicle brands under one roof means we can focus more strongly on the needs of the truck and bus business and can therefore accelerate the decision-making process,” said Andreas Renschler. “In so doing, the MAN and Scania brands retain their independence, in line with Volkswagen's basic principle.”

Volkswagen Commercial Vehicles—a manufacturer of light commercial vehicles—will also form part of the integrated commercial vehicles group and will report to Andreas Renschler, but the brand will continue to maintain close ties with the Volkswagen Passenger Cars brand where the synergies mainly lie, said Volkswagen.

Source: Volkswagen