Truck arms plan expansion under changing VW structure
Reports indicate Volkswagen’s truck and van arms are looking to take on Daimler and Volvo in the US
The Volkswagen diesel emissions debacle may have quickened its truck divisions’ move to greater independence, as a group restructure leaves Scania, Man and its commercial van arms looking to new markets.
According to reports, Volkswagen’s trucking businesses are considering expansion plans as they gain more control from the main company in the wake of the diesel scandal.
"We're keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing," a spokeswoman for Volkswagen trucks is quoted as saying by Reuters.
Such a move would see more independence for the commercial vehicle companies that currently sit under the direction of former Daimler chief Andreas Renschler, who took over Volkswagen Truck and Bus two years ago.
While the Volkswagen group had already planned to give each of its 12 brands increased responsibility for their governance, reports say that independence is being fast tracked.
Speaking with Bloomberg this week, Renschler confirmed the division is "keeping all options open on our way to becoming a global champion."
Part of this direction may mean a move into the yet-to-be-developed North American market, which is profitable for rivals Volvo Group and Daimler.
"In the long-term, the North American market is of course interesting for us, but it has to be a good fit for us as well as for a possible partner," Renschler explained to Bloomberg.
Who the possible partner would be is yet to be unveiled, but suggestions have pointed to US-based companies, such as Paccar or Navistar International.
Renschler also confirmed they are looking at the Chinese market.
Volkswagen took over Scania in 2008 and gained full ownership just over a year ago, while the German company has held a controlling stake in MAN since 2011 and currently holds just over 75 per cent.