Partnership with Toyota subsidiary Hino Motors: VW truck boss Renschler is working on the Global Champion

04/12/2018

Partnership with Toyota subsidiary Hino Motors VW truck boss Andreas Renschler is working on the Global Champion

REUTERS

Andreas Renschler

Volkswagen and Japanese truck builder Hino Motors are entering into a close strategic alliance, according to information from manager-magazin.de. The alliance plans to cooperate on, among other things, environmental technologies, electric vehicles, sales and production networks.

A mutual participation is not thought, learned manager-magazin.de from group circles. The alliance is considered a further step on the way to the goal, a global champion in the commercial vehicle business to be, then to offer about Daimler Paroli. Volkswagen confirmed the cooperation in the morning with a separate message.

The Volksagen rival Toyota holds a majority stake in Hino with 50.1 percent. Hino is considered a leading commercial vehicle manufacturer with a strong presence in Asia and the Japanese market. The company supplies more than 80 countries and regions, including the United States.

In the past three years, the former Daimler manager and current Volkswagen Truck CEO Andreas Renschler has not only been closely interlinking the two self-confident truck subsidiaries MAN and Scania. Together with the commercial vehicle business in Brazil and the digital company Rio, they form the VW division Truck & Bus.

Under Renschler VW Trucks has also participated with just under 20 percent of the US truck manufacturer Navistar. In China, Renschler wants to further expand its cooperation with Sinotruk – MAN holds a 25-percent stake here.

Perhaps already today, it is said in the Group, the Supervisory Board could decide the transformation of the Truck & Bus GmbH into a capital market eligible AG and thus create the basic conditions for a possible IPO. A possible initial listing could take place at the beginning of next year. So far, the Group has always called an IPO of the truck division as an option.

Seat of the new Truck & Bus AG is to become according to information of manager-magazin.de Munich. The VW commercial vehicles (including Caddy to Crafter) should not be part of Truck & Bus AG. According to other reports, existing commitments to the employees of the LkW subsidiaries should be maintained in the event of a potential IPO of the truck division.

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