View source for Traton

{{Short description|European vehicle manufacturing company}}
{{Infobox company
| name = Traton SE
| logo = [[File:Traton Group Logo.svg|frameless|class=skin-invert]]
| logo_size =
| logo_alt =
| logo_caption =
| logo_padding =
| image =
| image_size =
| image_alt =
| image_caption =
| trade_name =
| native_name =
| native_name_lang =
| romanized_name =
| former_name = {{Plainlist|
* Truck & Bus GmbH
* Volkswagen Truck & Bus GmbH
* Volkswagen Truck & Bus AG
* Traton AG
}}
| type = [[Public company|Public]]
| traded_as = {{ubl
|{{FWB|8TRA}}
}}
| ISIN = {{ISIN|sl=n|pl=y|DE000TRAT0N7}}
| industry = [[Automotive]]
| genre = <!-- Only used with media and publishing companies -->
| fate =
| predecessor = [[Volkswagen Group]]'s heavy vehicle operations
| successor = <!-- or: | successors = -->
| founded = {{start date and age|June 6, 2013}}
| founder = <!-- or: | founders = -->
| defunct = <!-- {{end date|YYYY|MM|DD}} -->
| hq_location =
| hq_location_city = [[Munich]]
| hq_location_country = Germany
| coordinates =
| num_locations =
| num_locations_year = <!-- Year of num_locations data (when known) -->
| area_served = <!-- or: | areas_served = -->
| key_people = [[Christian Levin]] ([[chief executive officer|CEO]])<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2020-07-07/volkswagen-management-reshuffle-spills-over-to-truck-subsidiary |title=Volkswagen Management Tumult Spills Over to Truck Subsidiary |work=Bloomberg |date=2020-07-07 |last=Rawald |first=Christoph |access-date=2020-07-19}}</ref>
| products = [[Commercial vehicle]]s
| brands =
| production =
| production_year =
| services =
| revenue = {{increase}} {{euro|46.87 [[1,000,000,000|billion]]|link=yes}}<ref name=AR23pg3/>
| revenue_year = 2023
| operating_income = {{increase}} {{euro|4.03 billion}}<ref name=AR23pg3/>
| income_year = 2023
| net_income = {{increase}} {{euro|2.45 billion}}<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=130}}</ref>
| net_income_year = 2023
| aum = <!-- Only for financial-service companies -->
| assets = {{increase}} {{euro|61.70 billion}}<ref name=AR23pg62>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=62}}</ref>
| assets_year = 2023
| equity = {{increase}} {{euro|16.49 billion}}<ref name=AR23pg62/>
| equity_year = 2023
| members =
| members_year = <!-- Year of members data (when known) -->
| num_employees = {{increase}} 102.620<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=151}}</ref>
| num_employees_year = December 31, 2023
| parent = [[Volkswagen Group]] (89.7%)
| divisions =
| subsid = {{ubl |[[Scania AB]] |[[MAN Truck & Bus]]|[[International Motors]] |[[Volkswagen Truck & Bus]] |[[Sinotruk (Hong Kong)|Sinotruk]] (25%, joint venture)}}
| slogan = <!-- or: | slogans = -->
| module = <!-- Used to embed other templates -->
| website = [https://www.traton.com www.traton.com]
| footnotes =
| intl = <!-- Set positively ("true"/"yes"/etc) if company is international, otherwise omit -->
}}
'''Traton SE''', known as the '''Traton Group''' (formerly '''Volkswagen Truck & Bus AG'''), is a subsidiary of the [[Volkswagen Group]] and one of the world's largest commercial vehicle manufacturers, with its [[Scania AB|Scania]], [[MAN Truck & Bus|MAN]], [[International Motors|International]], [[Volkswagen Truck & Bus]], [[IC Bus]] and [[Neoplan]] brands. The company also has digital services branded as RIO.<ref>{{Cite news|url=https://www.automotiveworld.com/news-releases/strategy-update-traton-2019-edition-a-new-automotive-world-report/|title=Strategy update: Traton – 2019 edition – a new Automotive World report|date=2019-11-28|work=Automotive World|access-date=2019-11-28}}</ref> In 2023, the group sold around 340 thousand vehicles.<ref name=AR23pg3>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=3}}</ref> The range of products includes light-, medium-, and heavy-duty trucks, as well as vans and buses. As of December 31, 2023, Traton employed around 100,000 people in its commercial vehicle brands.<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=151}}</ref>
== History ==
In 1979, Volkswagen AG held a 67% share in [[Chrysler]] Motors do Brasil Ltda., a Brazilian commercial vehicle manufacturer. In 1980, Volkswagen acquired the remaining shares in Chrysler, renamed the company Volkswagen Caminhões e Ônibus Ltda., and assigned it to the Volkswagen Commercial Vehicles division.{{citation needed|date=November 2019}}
In 2000 Volkswagen contributed 3 billion [[Deutsche Mark|German marks]] to Swedish [[Scania AB]], controlling 34% of the voting rights and holding 18.7% of the share capital. In 2006, [[MAN SE]] presented Volkswagen and the other Scania shareholders with a takeover offer in the amount of 9.6 billion euros. A few days later, Volkswagen rejected the offer, and broached the subject of a potential truck alliance for the first time.{{citation needed|date=November 2019}}<ref>{{cite news | url=https://www.welt.de/print-welt/article515321/Aktionaere-mit-VW-Chef-Piech-unzufrieden.html | title=Aktionäre mit VW-Chef Piëch unzufrieden | newspaper=Die Welt | date=23 May 2000 | last1=Nicolai | first1=Birger }}</ref>
In October 2006, Volkswagen AG announced that it had acquired 15% of MAN SE, but did not intend to take over. On October 12, 2006, MAN SE increased its takeover bid to Scania by 400 million euros, bringing it to a total of 10 billion euros. At the same time, it bought additional shares, giving it control of about 14% of Scania AB. After the partners also rejected the revised offer, MAN withdrew the offer in January 2007, and began talks about a possible alliance between the three companies. To further consolidate this alliance, Volkswagen acquired another 14.9% of MAN. Shortly afterwards, Volkswagen announced that it now held 35.3% of the Scania voting rights. Volkswagen acquired a further 30.62% of the voting rights from the Swedish [[Investor AB]] and the [[Wallenberg family|Wallenberg]] foundations in March 2008. Volkswagen had already controlled this share in the past by means of an agreement with the existing shareholders.<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/international/volkswagen-takes-control-of-scania/articleshow/2835172.cms?from=mdr|title=Volkswagen takes control of Scania|date=2008-03-04|work=The Economic Times|access-date=2019-11-28}}</ref>
In December 2008, Volkswagen AG sold the Brazilian subsidiary Volkswagen Caminhões e Ônibus Ltda. to MAN SE for 1.2 billion euros. The company was incorporated into MAN Latin America Ltda. under a new name, selling the majority of its heavy trucks and buses under the Volkswagen Caminhões e Ônibus brand, alongside MAN Truck and Bus products. Volkswagen acquired further MAN SE shares at the beginning of May 2011 and was obliged to submit a takeover offer, which it did at the end of the same month. Volkswagen held the majority of voting rights at 55.9% at the end of the acceptance period. As part of further share purchases, Volkswagen announced voting rights of 75.03% on June 6, 2012. Due to the resulting statutory blocking minority of 25%, Volkswagen was given sole control of MAN SE. On April 16, 2013, Volkswagen AG applied for “Truck & Bus GmbH” to be entered into the commercial register of the city of Wolfsburg. On forming this new subsidiary, Volkswagen transferred the shares it held in MAN SE, with which Truck & Bus GmbH signed a control and profit transfer agreement on June 6, 2013. Volkswagen AG held more than 89% of the Scania AB voting rights as a result of the shares in Scania held by its subsidiary, MAN.{{citation needed|date=November 2019}}
In February 2014, Volkswagen issued a voluntary public takeover bid to the remaining shareholders of Scania. At the end of the acceptance period in June 2014, Volkswagen held 99.57% of the voting rights. Following the squeeze-out under Swedish law, Volkswagen AG became the holder of 82.63% of the voting rights directly and another 17.37% via MAN SE.<ref>{{Cite news|url=https://www.autoblog.com/2015/05/05/volkswagen-truck-and-bus-official/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAGqTM_9GwQv7pbABza6K1jj1xugGXrQdNAWI1iMKioYmC7R8u0FT79uNdc8zwhiYByyC0_5GimgyVOBt8uQC8IKxrxftQ4_KRxVIxPvtvqLW6P_e1mC6TkAcCSQsAejSYot3hQnsIuSw3N2qu25o-7i3xASSJV-SdCKsGjrYQK-B|title=Volkswagen Group launches Truck and Bus GmbH|last=Joseph|first=Noah|date=2015-05-05|work=Autoblog|access-date=2019-11-28}}</ref>
At the beginning of July 2015, the shareholders' meeting of Truck & Bus GmbH decided to rename it Volkswagen Truck & Bus GmbH, a company based in Braunschweig. [[Andreas Renschler]], at that time responsible for the commercial vehicles on the board of management of Volkswagen AG, became CEO. [[Martin Winterkorn]] was appointed as chairman of the supervisory board. The shares Volkswagen held in Scania were transferred to the renamed holding company. Volkswagen Commercial Vehicles remained part of Volkswagen AG.{{citation needed|date=November 2019}}
In 2016, Volkswagen Truck & Bus acquired a 16.6% stake in U.S. commercial vehicle maker [[Navistar International|Navistar International Corporation]]. Both companies entered into a strategic technology and supply cooperation initiative and established a purchasing joint venture.<ref>Yerak, Becky. [https://www.chicagotribune.com/business/ct-volkswagen-buying-stake-in-navistar-20160906-story.html Volkswagen buying $256 million stake in Navistar]. chicagotribune.com. Retrieved 2017-01-06.</ref>
On June 20, 2018, Volkswagen Truck & Bus was announced as being renamed Traton, effective from the third quarter of 2018.<ref>{{Cite news|url=https://www.reuters.com/article/us-volkswagen-trucks/volkswagen-truck-bus-to-be-renamed-traton-idUSKBN1JG1E9|title=Volkswagen Truck & Bus to be renamed Traton|last=Taylor|first=Edward|date=2018-06-20|work=Reuters|access-date=2019-11-28}}</ref>
On June 26, 2018, Volkswagen Truck & Bus GmbH was transformed into a German stock corporation (''[[Aktiengesellschaft]]''), becoming Volkswagen Truck & Bus AG.<ref>[https://vwtb.com/en/newsroom/press_releases/press_release_27062018.html Volkswagen Truck & Bus completes transformation into a stock corporation]. Retrieved 2018-06-27.</ref>
In August 2018, Volkswagen Truck & Bus was renamed Traton AG.<ref>{{cite web|url=https://www.volkswagenag.com/en/news/stories/2018/08/traton-transforms-the-transport-business.html|title=Traton is a company for a new era of transportation. An Interview with Andreas Renschler.}}</ref> The company used this new name at the IAA 2018 press conference with the tagline "Transforming Transportation".<ref>{{cite web|url=https://iaa.traton.com/|title=IAA TRATON 23.08.18 - Traton @ IAA_18.}}</ref> Followed by the transformation into a European company (''[[Societas Europaea]]'' or SE) in December 2018, the company was renamed Traton SE.<ref>{{Cite news|url=https://www.braunschweiger-zeitung.de/wirtschaft/article216060921/VW-stellt-Nutzfahrzeug-Traton-neu-auf.html|title=VW stellt Nutzfahrzeugtochter Traton neu auf|last=Schweiger|first=Andreas|date=2018-12-20|work=Braunschweiger Zeitung|access-date=2019-11-28}}</ref> The name stands for TRAnsformation, TRAnsportation, TRAdition, TONnage and always “ON”.<ref>{{Cite web|url=https://www.volkswagenag.com/en/news/2018/06/VW_Truck_and_Bus_TRATON_GROUP.html#|title = A new Champion for a new era: Volkswagen Truck & Bus to become TRATON GROUP}}</ref>
On June 28, 2019, Traton was listed at the [[Frankfurt Stock Exchange|Frankfurt]] and [[Stockholm Stock Exchange|Stockholm stock exchange]]. The placement price for the dual listing was set at 27.00 euros per share. About 57,500,000 ordinary [[Bearer instrument|bearer shares]] from Volkswagen AG's holdings were placed with investors, 11.5% of Traton's share capital.<ref>{{Cite news|url=https://www.marketwatch.com/story/volkswagen-sets-traton-ipo-price-at-eur27-a-share-2019-06-28-14854253|title=Volkswagen sets Traton IPO price at EUR27 a share|last=Costello|first=Patrick|date=2019-06-28|work=MarketWatch|access-date=2019-11-28}}</ref> Volkswagen raised 1.55 billion euros.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2019-06-28/volkswagen-s-truck-unit-opens-flat-in-frankfurt-trading-debut|title=Volkswagen's Truck Unit Opens Flat in Frankfurt Trading Debut|last=Rauwald|first=Christoph|date=2019-06-28|work=Bloomberg|access-date=2019-11-28}}</ref>
In 2018, Volkswagen Truck & Bus and [[Hino Motors]] announced a wide-ranging [[strategic partnership]] for activities including procurement, technologies, and logistics. In November 2019, they established a procurement [[joint venture]] called Hino and Traton Global Procurement, with 51% of it owned by Traton and 49% by Hino.<ref>{{cite web |url=https://www.automotivelogistics.media/supply-chain-management/traton-and-hino-sign-procurement-jv/39547.article |title=Traton and Hino sign procurement JV |work=Automotive Logistics |last=Williams |first=Marcus |date=2019-11-05 |access-date=2020-02-25}}</ref> By 2023, the partnership was terminated.<ref name=NikkeiHino>{{cite web |url=https://www.nikkei.com/nkd/company/article/?DisplayType=1&ng=DGXZQOFD3084R0Q3A530C2000000&scode=7203 |title=トヨタ、外部資本で日野自再建 脱炭素へ規模拡大に活路
|trans-title=Toyota to restructure Hino with outside capital in order to increase scale and cope with fossil fuel phase out |language=ja |work=Nikkei |date=2023-05-30 |access-date=2023-06-03}}</ref>
On January 30, 2020, Traton announced a proposal to purchase all outstanding shares in Navistar.<ref>{{cite web |url=http://www.ft.com/content/2e0e8c3e-43b0-11ea-a43a-c4b328d9061c|title=VW offers $2.9bn for control of US truckmaker Navistar |work=Financial Times |last1=Miller |first1=Joe |last2=Campbell |first2=Peter |date=2020-01-30 |access-date=2020-02-25}}</ref>
In February 2020, Traton announced that it intended to absorb [[MAN SE]] by merging to simplify Traton's overall structure. As a result of the merger, MAN Truck & Bus SE, Scania AB, and Volkswagen Caminhões e Ônibus were to become wholly owned direct subsidiaries of Traton.<ref>{{cite press release|url=https://traton.com/en/newsroom/press_releases/press_release_28022020.html|access-date=2020-03-14|title=Traton seeking to execute a squeeze-out of the non-controlling shareholders of MAN SE in accordance with merger law|date=2020-02-28}}</ref> The merging of the MAN company into Traton was completed in August 2021.<ref>{{cite press release|url=https://traton.com/en/newsroom/press-releases/press-release-31082021.html|title=Traton successfully completes merger squeeze-out of MAN SE|date=2021-08-31|access-date=2022-09-01}}</ref>
In September 2020, Traton formed a partnership with TuSimple, a self-driving trucking technology company, to co-develop level-4 autonomous trucks by equipping Traton's Scania trucks with automated vehicle technology.<ref>{{Cite web|title=VW's Traton Group strikes a deal with TuSimple to develop autonomous trucks|url=https://techcrunch.com/2020/09/23/vws-traton-group-strikes-a-deal-with-tusimple-to-develop-autonomous-trucks/|access-date=2020-12-04|website=TechCrunch|date=23 September 2020 |language=en-US}}</ref> As part of this new partnership, Traton has invested in TuSimple.<ref>{{Cite web|last=Ohnsman|first=Alan|title=Volkswagen's Truck Unit Ties Up With TuSimple On Robot Big Rigs|url=https://www.forbes.com/sites/alanohnsman/2020/09/23/volkswagens-truck-unit-ties-up-with-tusimple-on-robot-big-rigs/|access-date=2020-12-04|website=Forbes|language=en}}</ref> The respective development agreement between the companies was ended in December 2022.<ref>{{Cite web |date=2022-12-06 |title=TuSimple, Navistar End Agreement to Co-Develop Autonomous Trucks |url=https://www.ttnews.com/articles/tusimple-navistar-end-agreement-co-develop-autonomous-trucks |archive-url= |archive-date= |access-date=2024-08-12}}</ref>
On July 1, 2021, Traton successfully completed its takeover of Navistar.<ref>{{Cite web|title=TRATON GROUP Successfully Completes Navistar Merger and Ushers in a New Era|url=https://news.navistar.com/2021-07-01-TRATON-GROUP-Successfully-Completes-Navistar-Merger-and-Ushers-in-a-New-Era/|access-date=2021-07-01|website=Navistar|language=en}}</ref>
On May 18, 2022, Volkswagen Caminhões e Ônibus announced it was changing its corporate name to Volkswagen Truck and Bus, one of its parent's former names.<ref>{{Cite web|title=Volkswagen Truck & Bus is the new corporate name of Volkswagen Caminhões e Ônibus|url=https://en.vwtbpress.com/noticia/volkswagen-truck---bus-is-the-new-corporate-name-of-volkswagen-caminhoes-e-onibus|access-date=2022-05-19|website=VW Truck and Bus Press Room|language=en}}</ref>
== Corporate structure ==
=== Integration into the Volkswagen Group ===
Traton forms the Commercial Vehicles Business Area of the Volkswagen Group, which owns a 89.7% majority shareholding. The Commercial Vehicles Business Area formerly included the [[Volkswagen Commercial Vehicles]] brand, but following changes in the management structure of the Volkswagen Group, the Volkswagen Commercial Vehicles brand was reallocated to the Passenger Cars Business Area from 1 January 2019.<ref>{{Cite web|url=https://www.volkswagenag.com/presence/investorrelation/publications/interim-reports/2019/volkswagen/Q3_2019_e.pdf|title=Interim Report January - September 2019|date=2019-10-30|website=Volkswagen AG|page=50|access-date=2019-11-28}}</ref>
Scania AB, MAN Truck & Bus SE, International Motors, LLC and Volkswagen Truck & Bus are all wholly owned subsidiaries of Traton, which also holds 25% + 1 share of [[Sinotruk (Hong Kong)|Sinotruk]].<ref>{{Cite web|url=https://www.corporate.man.eu/man/media/content_medien/doc/global_corporate_website_1/investor_relations_1/unternehmenspraesentation/MAN-Unternehmenspraesentation-EN.pdf|title=MAN SE Company Presentation|date=2020-03-01|website=www.corporate.man.eu|access-date=2020-05-23}}</ref>
== Brands and Services ==
=== Scania ===
[[Scania AB]] makes trucks for long-distance and distribution traffic, construction sites, and special areas, including [[autonomous trucks]] for enclosed areas. City and intercity buses, and coaches complete the product portfolio. In 2023, the brand sold 96,727 vehicles – 91,652 trucks and 5,075 buses.<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=56}}</ref>
=== MAN ===
[[MAN Truck & Bus]] has medium- and heavy-duty trucks for long-haul and distribution transport, as well as for construction sites and special applications. In addition to urban, intercity, and touring coaches of the MAN and [[Neoplan]] brands, the [[MAN TGE|TGE]] light transporter completes the range of models on offer.In 2023, MAN sold 116,033 vehicles, including 83,703 trucks, 5,703 buses and 26,627 crafters. In 2023, sales revenue of the MAN Truck & Bus operating unit was 14.8 billion euros.<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=57}}</ref>
=== International ===
[[International Motors]] produces heavy trucks under the International brand, and buses under the [[IC Bus]] brand. On July 1, 2021, International (at the time known as Navistar) became a wholly owned subsidiary of Traton SE, and therefore part of the Traton Group.
=== Volkswagen Truck & Bus ===
[[Volkswagen Truck & Bus]] <!-- (formerly Volkswagen Caminhões e Ônibus) --> specializes in developing markets. It has light-, medium-, and heavy-duty trucks for long-distance and distribution transport, construction sites, and special areas. City and intercity buses and coaches are also available. In 2023, it sold a total of 37,203 vehicles.<ref>{{Cite web |date=2024-02-21 |title=Annual Report 2023 |url=https://ir.traton.com/media/document/46a585ee-e4e0-4d6c-8c6b-5bb7c0bec569/assets/TRATON-GB-2023-EN.pdf |archive-url= |archive-date= |access-date=2024-08-12 |website=Traton Group |page=58}}</ref>
=== Traton Financial Services ===
Traton Financial Services is Traton's captive finance business, providing financial and insurance products and other services under the following customer facing brands:<ref>{{Cite web |date=2024-10-15 |title=Traton Financial Services |url=https://traton.com/en/company/brands-and-services/financial-services.html |archive-url= |archive-date= |access-date=2024-10-15 |website=Traton Group}}</ref>
* Scania Financial Services<br/>
* MAN Financial Services<br/>
* International Financial<br/>
* Volkswagen Truck & Bus Financial Services<br/>
=== RIO ===
RIO is the digital services brand of Traton.<ref>{{Cite web|url=https://www.freightwaves.com/news/traton-charges-ahead-with-e2-billion-investment-in-electric-autonomous-vehicles|title=Traton charges ahead with €2 billion investment in electric, autonomous vehicles|last=Straight|first=Brian|date=2019-02-10|website=Freight Waves|access-date=2019-11-28}}</ref>
== References ==
{{Reflist}}
== External links ==
* {{Official website|https://traton.com}}
{{Volkswagen Group}}
{{SDAX companies}}
{{Authority control|state=expanded}}
[[Category:Traton| ]]
[[Category:Volkswagen Group]]
[[Category:Companies based in Bavaria]]
[[Category:Bus manufacturers of Germany]]
[[Category:Truck manufacturers of Germany]]
[[Category:Vehicle manufacturing companies established in 2013]]
[[Category:German companies established in 2013]]
[[Category:2019 initial public offerings]]
[[Category:Companies listed on the Frankfurt Stock Exchange]]