Japanese truck maker Hino Motors Ltd and Volkswagen Truck & Bus GmbH said on Thursday they have agreed to form a strategic tie-up to better compete in the commercial vehicle industry, which is undergoing transformation due to the need for lower-emission vehicles and automated driving capabilities.
This could be in addition to selling off some subsidiaries.
In addition to the purging of non-core brands, VW may also roll its component manufacturers into a single unit.
If VW can't pay back its $21 billion in loans on time, it might have to sell important assets like Bentley or Lamborghini.
The Volkswagen Group is preparing a massive shakeup to its internal structure that will see the company's brands split into four companies of three brands.
Volkswagen owns or has controlling interests in three commercial truck operations: besides its own, VW began buying shares in Sweden's Scania in 2000 and now controls 89.2 percent of its shares and 62.6 percent of its capital, then bought into Germany's Man in 2006 - in order to prevent Man from trying to take over Scania - and now owns 75 percent of it. The car company has managed to work out 200 million euros in savings, but believes it can unlock a total of 650 million euros in savings if it
Volvo CEO Hakan Samuelsson will be making a rather large charitable donation - 500,000 Euros ($668,000), according to Bloomberg. This is not, however, a move out of the goodness of his heart. It's part of an agreement the exec made after a court case in Germany. Samuelsson spent nine years at truck manufacturer MAN, with his last four years as the boss. During his tenure, though, MAN was accused of illegal conduct, now understood to be bribes, in its Slovenian operations.
Reuters reports Volkswagen has upped its stake in Maschinenfabrik Augsburg-Nürnberg – better known as MAN – from 73.76 percent to a full 75 percent. While that may seem like a slight jump, the move allows Volkswagen to ask for a domination agreement, which would give the automaker full control over the commercial vehicle company. Volkswagen and Audi currently share a similar understanding. MAN shares increased by around 9 percent on the news, with some investors believing Volksw
Volkswagen is on the rise, and has its eye on becoming the largest automaker in the world. But the VW Group is about more than just cars. Their considerable holdings and expanding corporate tree also encompasses several heavy truck manufacturers, and that part of the business has now been cleared to expand.
There's plenty of room to get lost in the Volkswagen Group. In addition to the VW brand, the group controls Skoda, Seat, Audi, Porsche, Lamborghini, Bentley and Bugatti. But we can't forget its truck divisions. In addition to being Europe's largest automaker, VW is also one of its largest producer of trucks as well, producing VW commercial vehicles while holding nearly three-quarters of the shares in Swedish truckmaker Scania and a significant stake in MAN as well.
RATP, the public-owned company that manages most of Paris' public transport system, is currently performing tests using a hybrid bus outfitted with ultracapacitors. For now, the test buses are passenger-free. The model, called Lion's City Hybrid, is supplied by German manufacturer MAN and the company claims it reduces fuel consumption about 20 to 25 percent. RATP is testing the bus in four different bus lines, which represent four different types of bus lines configurations, from suburban medium
The Action Mobil Globecruiser is more of a superhero support vehicle than something meant for the average guy or gal. The stats: 783-cubic-inch, 530 hp six-cylinder diesel, 12-speed automatic, permanent AWD, two locking differentials, ABS, a 219-gallon fuel tank, a 154-gallon water tank, 2.4-inch thick sandwich plate fibreglass walls and doors, burglar-proof windows, insulated plumbing, and heating via water radiators. Oh, and it's got a flushing, porcelain toilet.
The earliest reports on the "resignation" of Volkswagen group CEO Bernd Pischetsrieder indicated that while he'd be replaced as chief executive, he would be retained to take on "special assignments". What such ambiguous duties might entail was a mystery, but it's looking like he may be put in charge of managing a merger between two major European truck companies.
Wartsila and MAN Diesel, two world leading European marine engine manufacturers, have agreed to join forces in a research project, called Hercules-B, in order to maximize fuel efficiency and reduce emissions. The aim of the project is to reach engine efficiency of 60 percent or more for marine diesel engines. Just as a comparison, automotive gasoline engines operate at an efficiency of approximately 20 percent, while automotive diesel engines reach 30 percent or higher.