The Board of Management of Volkswagen AG has resolved to go ahead with the planned IPO of VW subsidiary Traton SE before the summer break, depending on 'further developments on capital markets'. Traton is VW's commercial vehicle specialist that includes brands such as MAN and Scania.

On March 13, 2019, Volkswagen AG decided not to continue with preparations for an IPO of Traton SE in the light of the difficult market environment at that time. The Board of Management did, however, state it was still aiming for an IPO once market conditions had improved.

Frank Witter, Volkswagen AG Board member responsible for Finance and IT, said: "We have always clearly reiterated our intention to pursue an IPO. Current market assessments have encouraged us to take today's decision."

Andreas Renschler, Chief Executive Officer of Traton SE and a member of the Board of Management of Volkswagen AG, said: "Traton SE and our entire team are very well placed to resume preparations for a swift IPO. Our groundwork has been excellent and we are now fully focused on a potential IPO before the summer break."