Volkswagen's truck branch, Traton, on Thursday increased its bid by 23% to $ 3.6 billion to acquire the entire American heavy-vehicle manufacturer Navistar, in which it already holds 17%.
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The objective of the world number two: to develop its activities on the American market to attack competitors Daimler and Volvo, which are very present there while Volkswagen operates mainly in Europe and Latin America.
Traton and Navistar, which have nearly 80,000 and 15,000 employees respectively, have been cooperating since 2017 in technology and purchasing.
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Navistar, which boasts of being the “leader” of the American school bus market, posted sales of $ 11.3 billion in 2019 for 106,500 vehicles sold.
It markets the “International Truck” brand.
Traton, an entity comprising in particular MAN and Scania trucks, sold 242,000 units in 2019 and posted sales of € 26.9 billion.