Volkswagen Truck & Bus will be renamed TRATON Group which it said was “another milestone on the group’s way to increase independence even further and towards capital market readiness”.
CEO Andreas Renschler said in a statement: “The new name is a major milestone on our road to become global champion of the transportation industry. Since our foundation, we have grown together faster than expected. TRATON provides us with more independence. It will further strengthen our group’s joint identity and uniqueness. The new name will also foster our visibility as the leading group for innovative transportation solutions. It will increase our attractiveness for new talents as well as for capital markets.”
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VW said TRATON “reflects the Group’s DNA: what the company is striving for and how it is acting. The name stands for a young company designed for and born in a new era of transportation”:
• TRAnsformation of the ecosystem transport is our mission – for everyone’s benefit.
• TRAnsportation is our and our customers’ passion.
• TONnage is what our customers are moving around the world, every day.
• TRAdition of our strong brands is what is grounding us.
• Always ON is the ultimate goal of our customers and our attitude in order to make everything possible for them.
The brands MAN, Scania, Volkswagen Caminhoes e Onibus and RIO will retain their own identities under the new umbrella brand. The official name change is expected to be effective by the third quarter of 2018.
Added VW: “The transportation sector is facing major changes due to increasing transportation volumes, higher emission standards and customer demand for efficient, sustainable and competitive solutions. TRATON combines the agility and spirit of a start-up with the extensive experience of traditional brands. With this unique set-up, the Group is perfectly positioned to re-invent transportation for future generations.”
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By GlobalDataHans-Dieter Poetsch, head of Volkswagen and Volkswagen Truck & Bus supervisory boards, said: “The board fully supports the ambitious plans and the group’s move towards a unique identity. This will reinforce our truck business on their way to capital market readiness.”
