Culminating a busy few weeks of changes and activities, Volkswagen Truck & Bus has announced the organization will now be called Traton Group, a branding move the company said is being done as a way to increase independence even further and towards capital market readiness. The official name change is expected to be effective by the third quarter of this year.
The group’s MAN, Scania, Volkswagen Caminhões e Ônibus and Rio will retain their own identities under the umbrella brand of Traton Group.
Last week Volkswagen Truck & Bus appointed Christian Schulz, a mergers and acquisitions expert as chief finance chief officer. The company also made itself into a stock corporation, a move the company said would make it easier issue shares. While saying it would not happen this year, Volkswagen also said it was considering a stock market listing of the trucks division
On Tuesday the company said it was exploring a commercial vehicles alliance with Ford Motor Co.
Andreas Renschler, chief executive officer of Volkswagen Truck & Bus Group and member of the board of management of Volkswagen AG, said, “the new name Traton 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.”
Hans-Dieter Pötsch, head of Volkswagen AG’s and Volkswagen Truck & Bus’ supervisory boards: “The supervisory board fully supports the ambitious plans of Volkswagen Truck & Bus and the Group’s move towards a unique identity. This will reinforce our truck business on their way to capital market readiness.”
Ostensibly, Volkswagen said the new name was created as it, “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 customer’s 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.”