Business, Technology, Autonomous

VW Pulls Truck Unit IPO in Setback to CEO’s Agility Revamp

vw A VW Heavy-duty truck on display at the IAA conference in 2018. (Krisztian Bocsi/Bloomberg News)

Volkswagen AG canceled plans for a partial share sale in its Traton SE division, citing weak markets, a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside of Europe.

Elisabeth Behrmann | Bloomberg News
March 13, 2019
Government, Business, Equipment, TCA

Connecticut Gov. Dannel Malloy Says Volkswagen Settlement Funds Will Help Update Diesel Trucks

Krisztian Bocsi/Bloomberg News

Connecticut is obtaining $7.5 million from the national Volkswagen settlement over emissions cheating and will use the funds to help replace aging diesel trucks and other equipment.

Bill Cummings | Connecticut Post (Bridgeport, Conn.)
May 31, 2018
Government, Business, Technology, Equipment, Logistics, TCA

Funds From Volkswagen Diesel Scandal to Pay for Zero-Emission Trucks in California

Getty Images

State officials figure the Volkswagen diesel emissions testing scandal added an extra 10,000 tons of noxious nitrogen oxide to California’s air. To make up for it, the state will use $423 million of Volkswagen penalty money to cut the same amount of nitrogen oxide by subsidizing the purchase of zero-emission trucks, buses and other vehicles.

May 29, 2018
Business, Equipment

VW CEO Herbert Diess Urges Corporate Culture Change Amid Sweeping Revamp

Herbert Diess, CEO of Volkswagen AG, speaks during the automaker's annual general meeting in Berlin, Germany, on May 3. (Krisztian Bocsi/Bloomberg News)

Herbert Diess, CEO of Volkswagen AG, pledged to step up integrity and compliance efforts as part of the German manufacturer’s deepest overhaul since the diesel-emissions scandal came to light in 2015.

Christoph Rauwald | Bloomberg News
May 4, 2018
Business, Equipment

VW Truck Division Signals Possible Takeover of Navistar

VW Building Krisztian Bocsi/Bloomberg News

Volkswagen AG’s heavy-vehicle division is open to a takeover of U.S. affiliate Navistar International Corp. as the German company seeks scale to compete with global leaders Daimler AG and Volvo AB.

Christoph Rauwald | Bloomberg News
April 16, 2018

VW Appoints Herbert Diess CEO in Sweeping Overhaul

Herbert Diess Diess by Daniel Acker/Bloomberg

Volkswagen AG picked a new leader in a management shakeup to ready the world’s largest automaker for a wave of technological change upending the industry’s traditional business models.

Christoph Rauwald | Bloomberg News
April 12, 2018
Business, Technology, Equipment, Safety, Fuel, Autonomous

VW to Roll Out Electric Trucks, Buses in $1.7 Billion Project

Krisztian Bocsi/Bloomberg News

Volkswagen AG is flanking its push into electric cars with plans to roll out battery-powered commercial vehicles targeted at urban areas as growing public concerns about air quality boost demand.

Christoph Rauwald | Bloomberg News
October 11, 2017

Volkswagen Increases Stake in Navistar

Volkswagen Truck & Bus, a unit of Volkswagen AG, has purchased nearly 300,000 additional shares of stock in Navistar International Corp.

Roger Gilroy | Senior Reporter
August 1, 2017

VW Says It Is Not Under Pressure to Sell Truck Business

Volkswagen is not under pressure to sell its truck business to raise cash as it faces billions of euros in costs after admitting to rigging emissions tests, management board member Andreas Renschler told a German newspaper.

Maria Sheahan | Reuters
January 31, 2016

Swedish Shareholders Group Recommends VW Bid for Scania

Casper Hedberg/Bloomberg News

A Swedish shareholders group recommended that its members accept Volkswagen AG’s $9.2 billion bid to buy out Swedish truck maker Scania AB, Reuters reported April 16.

April 16, 2014