Volkswagen Truck And Bus To Become Traton Group

Volkswagen Truck and Bus revealed that the organization will now be renamed into Traton Group. This new branding mark the Group's way to increase independence even further and towards capital market readiness. According to Volkswagen, the transportation sector is facing major changes due to increasing transportation volumes, higher emission standards and customer demand for efficient, sustainable and competitive solutions. The Traton Group will position itself to re-invent the transportation for the future. The name change at Truck & Bus will take effect by the third quarter of this year.

Also Read: Volkswagen, Navistar To Collaborate On Electric Truck; Launch In 2019

Hans-Dieter Potsch, Head of VW AG's and VW Truck And Bus' Supervisory Boards said, "The Supervisory Board fully supports the ambitious plans of Volkswagen Truck & Bus and the Group's move towards a unique identity. This will reinforce our truck business on their way to capital market readiness."

Volkswagen Truck & Bus is integrating the MAN and Scania divisions and has taken a stake in U.S. truck-maker Navistar to challenge rivals Daimler and Volvo. Last week Volkswagen Truck & Bus appointed mergers and acquisitions specialist Christian Schulz as its new finance chief and converted itself into a stock corporation, making it easier for VW to issue shares.

Also Read: Daimler AG Ready To Bring Electric Trucks To India

Volkswagen has said it was considering a listing or partial listing of the trucks division, but that this would not happen in 2018. On Tuesday it said it was exploring an alliance in the area of commercial vehicles with Ford Motor Co.

(Reporting by Edward Taylor Editing by Maria Sheahan)