Navistar CEO Troy Clarke touted benefits of the company’s deal with Traton Group, formerly Volkswagen Truck and Bus, while at the IAA Commercial Vehicles show in Hannover, Germany, noting for example that it has gained more purchasing power as a result.
Traton purchased a 17% equity stake in Navistar in 2016 and agreed to share technological developments and pursue global sourcing opportunities as partners. Navistar has already made a deal to use a new powertrain developed by Traton in future trucks, starting in 2021.
The deal has also helped Navistar turn around its financial outlook in recent years, with both companies expecting to save hundreds of millions of dollars in the next five years.
A full report on Navistar’s presentation at IAA is available on TruckNews.com.