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Can the presence of German, Chinese, and South Korean OEMs in Mexico tell us anything about the near future of the U.S. truck market? Jack Roberts has more in his Truck Tech blog.
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The Navistar-Volkswagen Truck & Bus Alliance has borne fruit faster than either company expected. Officials announced Monday they will develop a proprietary, integrated powertrain; a common connected vehicle and cloud platform; and an electric-powered Class 6/7 truck.
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Volkswagen quietly invested approximately $11,263,489 in Navistar International stock last month.
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Navistar International Corp. announced the closing of its "wide-ranging strategic alliance" with Volkswagen Truck & Bus, which includes an equity investment in Navistar, a procurement joint venture, and technology and supply collaboration.
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Navistar reported losses for both its fiscal fourth quarter and full year. But it's optimistic about the future with its pending strategic alliance with Volkswagen Truck & Bus, which has received U.S. antitrust approval.
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Now that the initial brouhaha has died down after the news broke of the Volkswagen Truck & Bus investment in Navistar last month, there is probably one big question that still needs an answer in a lot of North American minds: Like, who the heck is Volkswagen?
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Navistar International Corp. released fiscal third quarter financials on Thursday morning showing its losses grew in the third quarter of the year while revenue fell 18%, following news on Tuesday that Volkswagen is taking a minority interest in the Illinois-based company.
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Published reports indicate that Volkswagen's commercial trucks arm will soon announce it's buying nearly 20% of Navistar's shares and in return will sell diesels to the American truck builder and get two seats on the board.
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Part of Volkswagen AG’s recent settlement with the Federal Trade Commission over its emissions-cheating scandal will fund diesel emissions-reduction efforts in the heavy-duty truck industry.
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In an interview with Bloomberg, the head of Volkswagen’s truck business said the U.S. and China are among key regions for possible expansion.
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