VW's trucks arm eyes Nav­is­tar

Business Standard - - WORLD -

Volk­swa­gen is open to buy­ing a ma­jor­ity stake in US truck­maker Nav­is­tar ”at some point”, it said on Mon­day, as the Ger­man au­tomaker pre­pares its trucks busi­ness for a pos­si­ble stock mar­ket list­ing that could help raise funds to ex­pand. Volk­swa­gen Truck & Bus ac­quired a 16.9 per cent stake in Nav­is­tar In­ter­na­tional Corp in 2016 and last week joined forces with Toy­ota's Hino Mo­tors as it strives to com­pete more ef­fec­tively with global truck mar­ket lead­ers Daim­ler and Volvo.

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