June 9, 2014
Volkwagen's takeover of Scania may seem like it should only matter to Europeans, but the German automaker's goal is to be able to compete in commercial vehicles alongside global rivals Volvo and Daimler. North America is likely in its game plan.
Last month, Volkswagen, which already controlled more than 89% of the voting rights in the Swedish truck maker Scania, made a 6.7 billion euro ($9.2 billion) takeover bid. VW's goal is to combine Scania with its Volkswagen Commercial Vehicles business and the German truck maker MAN. VW gained full control of MAN last year after taking a majority stake in 2011. This is a big step in the German automaker's plan to create a massive trucks alliance to compete in global markets against rivals Volvo and Daimler – both of which have U.S. truck operations as well. Read more about Scania here.
May 13, 2014
Its $9.2 billion offer to buy out the truck-making arm of the Swedish vehicle manufacturer Scania has been accepted, according to published reports.
May 9, 2013
The European Union is following the U.S. lead in cutting greenhouse gas emissions in the transportation industry, but one approach may differ from that of North America: Larger engines and bigger rigs.
January 9, 2013
Volkswagen is seeking full control over German truck maker MAN through a "domination and profit and loss transfer agreement," a type of German contract similar to a parent company and subsidiary
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