VW pays $3.7 billion for Navistar & access to North America

Discussion in 'Truckers News' started by drvrtech77, Oct 18, 2020 at 9:28 AM.

  1. drvrtech77

    drvrtech77 Road Train Member

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    Navistar, parent company of one of the oldest truck manufacturers in U.S., has been acquired by Traton, the commercial truck business of Volkswagen.

    On Friday, Traton agreed to buy the remaining stake of Navistar — 84% — for $3.7 billion. The purchase gives VW access to the North American truck market.

    After sitting on an offer of $43 per share for more than a month, Navistar Friday morning countered an expiring “take it or leave it” letter from Traton with a higher asking price of $44.50.

    Navistar and Traton in 2016 partnered in a procurement joint venture and strategic technology and supply collaboration, beefing up both companies’ ability to scale globally. Dialogue between Navistar and Volkswagen – which also operates the MAN and Scania business units in Europe and abroad – began in 2015.

    Navistar and Traton are already connected in some of their business interests. Each holds a minority position in self-driving tech company TuSimple. Traton, as part of the partnership, was slated to develop self-driving trucks for the European market. Navistar was to co-develop SAE Level 4 self-driving trucks targeted for production by 2024.

    “We are pleased to have reached agreement in principle for a transaction after intensive negotiations with Navistar,” Traton CEO Matthias Gründler said in a statement Friday afternoon. “We are looking forward to completing our due diligence and obtaining the necessary approvals in respect of this exciting deal in order to welcome the new Traton family member.”

    Traton is a wholly-owned subsidiary of Volkswagen AG and maker of MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO. In 2019, Traton’s brands sold around 242,000 vehicles.

    VW pays $3.7 billion for Navistar & access to North America
     
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  3. Badmon

    Badmon Medium Load Member

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    Until they can get the robots to safely and efficiently get freight from point A to point B, i will continue to be unconcerned about my job security. Something is telling me that will be impossible to do. I feel like freight trains would be the first to be automated considering at least they dont have to be steered (correct me if im wrong) but with such heavy and massive machine(s) i dont think its a good idea when you consider the potential for catastrophic mechanical error. Just my 2¢
     
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  4. FozzyNOK

    FozzyNOK Road Train Member

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    I think Volkswagen makes some sweet looking trucks.. Like we don't need more options for trucks? This self driving thing is coming whether anyone likes it or not.
     
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  5. Studebaker Hawk

    Studebaker Hawk Road Train Member

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    Not that I expect it anytime soon, but I would purchase one of these in a millisecond if they would import a US version.
     
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  6. D.Tibbitt

    D.Tibbitt Road Train Member

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    I would like to drive one too , atleast just to test it out... the biggest problem would be maintenance and getting parts , being that its all imported stuff its gonna be way more expensive than the truck are now
     
  7. AModelCat

    AModelCat Road Train Member

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    Self driving trucks might replace linehaul positions. If you honestly believe that self driving trucks will be able to navigate a loaded log truck down the side of a mountain, pilot a cement mixer/dump truck around a construction site, haul a 14'+ wide load through narrow city streets etc it just ain't gonna happen.
     
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  8. Snailexpress

    Snailexpress Road Train Member

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    Probably good truck but not for American drivers. Look at 2:07 all those air drier canisters will be destroyed in just blink with trailer kingpin.
     
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  9. AModelCat

    AModelCat Road Train Member

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    With today's PC culture, it'd need to be renamed to "PERSON" instead of "MAN"

    :biggrin_2559:
     
  10. Studebaker Hawk

    Studebaker Hawk Road Train Member

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    There would have to be several modifications for the US market, tandem axle for one, rare in the EU. And I am not suggesting putting a driver in one and turning loose to 3-4 weeks living in the truck. All of the current US manufacturers now have an EU partner. Still don't expect cab over renaissance in the US anytime soon.
     
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  11. AModelCat

    AModelCat Road Train Member

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    That's one thing I don't understand. Everybody wants a big sleeper. Eliminate 4 feet of hood and extend the sleeper.
     
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