VW Creates Holding Company for Its Commercial Truck Operations

Volkswagen AG has set up Truck & Bus GmbH, a new subsidiary that owns the company's controlling stakes in heavy-duty truckmakers MAN SE and Scania AB.

Andreas Renschler, who VW hired away from Daimler AG last year to head the business, says consolidating VW's stake under one entity will help accelerate the decision-making process. The company took control of MAN in 2013 and acquired Scania last May.

VW has estimated that fully integrating the two rivals will lead to a gain of at least €650 million in operating profit a decade from now.