Volkswagen AG

Traton raises 2023 earnings target after solid Q3

Traton Group, the parent of Navistar International, raised its full-year earnings guidance Wednesday after reporting solid deliveries for the third quarter.

Munich-based Traton reported 15% higher sales in the first nine months at 249,500 vehicles compared to 217,000 in the first nine months of 2022. Improving supply chains helped increase production. Volvo Group and Paccar Inc. both reported solid Q3 results earlier. They are cautioning of a slowdown next year, especially in over-the-road...

https://www.freightwaves.com/news/traton-raises-2023-earnings-target-after-solid-q3

Founders of shuttered Argo AI launch autonomous trucking startup

The founders of shuttered self-driving car startup Argo AI, which was abandoned by Ford Motor Co. and Volkswagen AG, are starting an autonomous trucking business with $1 billion in backing from Japan’s SoftBank Group Corp.

“With our proprietary technology and expertise as well as the commitment from our long-term partner in SoftBank, we are confident we will revolutionize the trucking and freight industries,” Bryan Salesky, founder and CEO of Stack AV, said in a news release.

The move is...

https://www.freightwaves.com/news/founders-of-shuttered-argo-ai-launch-autonomous-trucking-startup

Navistar again boosts Traton Group financials

Germany’s Traton Group reported 32% higher revenues in 2022 despite the impact of Russia’s invasion of Ukraine, ongoing supply chain disruptions and record inflation.

Its North American truck-making unit, Navistar International, contributed significantly. Without the Lisle, Illinois-based manufacturer, Traton would have reported just 10% improved revenue year over year. Traton acquired Navistar for $3.7 billion in October 2021.

The truck holding company of Volkswagen AG , Traton is one of the...

https://www.freightwaves.com/news/navistar-again-boosts-traton-group-financials

Navistar readies integrated powertrain to supply Traton Group brands

Aerial view of Navistar engine plant in Huntsville, Alabama

On the heels of opening an advanced manufacturing plant in San Antonio for conventional diesel and battery-electric vocational trucks, Navistar said Wednesday it is ready to build an integrated powertrain in Huntsville, Alabama, for itself and its Traton Group siblings.

Navistar announced the engine plant expansion in 2019. The original investment of $125 million now stands at more than $190 million.

A modular approach will allow the integrated powertrain, originally announced as a diesel...

https://www.freightwaves.com/news/navistar-readies-integrated-powertrain-to-supply-traton-group-brands

Felicity Ace sinks

MOL Ship Management (Singapore) reported today that the car carrier Felicity Ace sank at around 9 a.m. local time, some 200 nautical miles off the Azores. The vessel had been in trouble since February 16, when a fire broke out that forced the crew to abandon the vessel. They were picked up by the nearby tanker Resilient Warrior and subsequently airlifted to safety by the Portuguese Air Force.

The vessel had been en route to the Port of Davisville, R.I., from Emden, Germany with a shipment of...

https://www.marinelog.com/legal-safety/shipping/felicity-ace-sinks/

Traton continues remake of Navistar, swapping executives between subsidiaries

Volkswagen AG’s Traton SE is continuing its makeover of recently acquired Navistar International, importing a MAN SE executive to lead commercial operations and dispatching a top Navistar executive to the German company’s corresponding position.

Interestingly, both Goran Nyberg, who begins at Navistar as executive vice president of commercial operations March 1, and Friedrich Baumann, who will join MAN as head of sales and customer solutions April 1, have expertise with Traton’s trucking...

https://www.freightwaves.com/news/traton-continues-remake-of-navistar-swapping-executives-between-subsidiaries

Traton shakes up Navistar C-suite, ousting CEO Lisboa

Volkswagen AG-owned Traton Group replaced Persio Lisboa as CEO of recently acquired Navistar International Corp. on Wednesday, part of an executive shuffling that retains about half of senior leadership.

Traton closed its $3.7 billion acquisition of Navistar, the No. 4 U.S. truck maker, on July 1.  The Navistar board of directors appointed Mathias Carlbaum, 48, as CEO and president effective Sept. 1. After a transition, Lisboa, 55, will retire after a 35-year career at Navistar including 14...

https://www.freightwaves.com/news/traton-shakes-up-navistar-c-suite-ousting-ceo-lisboa

TRATON goes (almost) all in on truck electrification

Volkswagen AG’s TRATON Group (8TRA.S.DX), which soon will be the parent of Navistar International Corp. (NYSE: NAV), will spend $1.9 billion on truck electrification by 2025. Some of that money could help Navistar advance early battery electric and hydrogen fuel cell programs.

TRATON earlier committed to spend $1.2 billion on electric mobility by mid-decade.

“TRATON is setting a clear focus on electric trucks,” TRATON CEO Mattias Gründler said in a press release Monday. “This transition will not...

https://www.freightwaves.com/news/traton-goes-almost-all-in-on-truck-electrification

Transmission: Some imports from major battery supplier of Ford EV F-150 banned

Here’s what’s cookin’ today in Transmission:

  • No more innovating for SK Innovation
  • Savannah adds port capacity to address growing demand
  • Industry news

No more innovating for SK Innovation 

On Wednesday, the U.S. International Trade Commission (ITC) ruled against SK Innovation Co Ltd. (SK), based out of South Korea, for stealing battery trade secrets from rival LG Chem. Both companies are based out of South Korea.

The punishment? SK Innovation can’t import some of its battery products and...

https://s29755.pcdn.co/news/transmission-some-imports-from-major-battery-supplier-of-ford-ev-f-150-banned

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