Volkswagen wants to focus on common strategies on procurement and technical projects, such as production and powertrain, to encourage cooperation between truck and engine maker MAN SE and the Swedish Scandia AB truck brand.
“What matters most is close, mutual collaboration across different brands–and this is something we have significantly stepped up in recent weeks and months,” declared Volkswagen Chief Executive Martin Winterkorn.
In November 2011 Volkswagen acquired a majority stake in MAN and now the company wants to closer cooperation with Scandia to forge a European truck business that can take on global market leaders Daimler AG and Volvo AB. Volkswagen holds a 55.9% voting stake in MAN, 53.71% of its share capital and it also holds a majority stake in Scania.
“All options are open to us when it comes to refining the structure of an integrated commercial vehicles group,” Winterkorn said.
In previous statements the company declared that it is aiming for initial cost synergies of at least 200 million euro a year and significantly higher savings in the long run. The cooperation between VW, MAN and Scania means that a ‘new top player arrived on the global truck market,’ as Winterkorn said.