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Volkswagen AG announced that it has acquired a controlling stake in Scania Trucks for 2.88 billion euros (US$4.37 billion), laying the foundation for a wider range of integration of the global truck industry. The industry believes that this move means that the public hopes to establish a larger truck company to enhance its position in the global truck market.
Martin Wendeng, Chairman of Volkswagen Group's Board of Directors, stated that “Scania is an excellent brand with a strong future. Volkswagen will provide strong support for the management and profitability strategies of Scania Trucks. After the transaction is completed, it is expected that There will be no change to the employees, management and headquarters of Scania Trucks."
Scania's truck manufacturing capabilities are strong. According to the Scania company website, the company was founded in 1891. Since its inception, Scania has manufactured and sold more than one million heavy trucks and large buses. For more than 70 years, Scania has been profitable every year and is the company with the highest profitability in the European truck market.
Volkswagen has never given up its commercial vehicle business. Its earliest plan was to integrate the German MAN Group and Swedish Scania Motors two heavy truck manufacturers along with its heavy truck plant in Brazil into its own development track. If these three parties merge successfully, the resulting heavy truck fleet of the Trilateral Alliance will exceed DaimlerChrysler and Volvo and become the world's heaviest trucker.
The current acquisition of Scania Trucks also laid the foundation for the alliance between Volkswagen and MAN's truck business. Volkswagen holds nearly 30% of the German company's shares.
Ping An Securities auto analyst Yu Bing told this reporter that from a global perspective, Volkswagen's development in the truck business should be said to have just started, far behind Mercedes-Benz and Volvo, and has never set foot in the Chinese market. Volkswagen is clearly catching up.