Volkswagen Takes Minority Stake in Truck Maker Navistar
Volkswagen takes stake in Navistar, forms alliance
Navistar, Volkswagen Announce ‘Wide Ranging Strategic Alliance’
Volkswagen Truck & Bus is taking a 16.6% equity stake in Navistar International Corp. as part of a “wide-ranging strategic alliance” that will initially focus on providing powertrains for Navistar trucks starting in 2019.
The joint venture is based on four pillars:
1. The equity investment. Volkswagen Truck & Bus will acquire 16.2 million newly issued shares in Navistar, representing 16.6% of post-transaction undiluted common stock (or 19.9% of pre-transaction outstanding common stock). It will pay $15.76 per share or a 25% premium over Navistar's 90-day volume weighted average price as of August 31, or 12% over Navistar's closing price on September 2. Navistar will receive $256 million from the equity investment to be used for general corporate purposes.
2. Technology sharing. The two companies will collaborate on technology for powertrain systems, as well as other advanced technologies. It will focus on powertrain technology solutions, with VW supplying engines and other powertrain components by 2019, according to Andreas Renschler, CEO of Volkswagen Truck & Bus. It also will explore collaboration in other areas, including advanced driver assistance systems, connected vehicle solutions, platooning and autonomous technologies, electric vehicles, and cab and chassis components. This collaboration will allow the companies to share some of the costs of future vehicle development.
3. A procurement joint venture. Pursuing joint global sourcing opportunities for parts for both companies will give both greater scale and competitiveness. It also can create improved pricing for end customers.
4. Governance. Navistar will add two Volkswagen Truck & Bus representatives to its board of directors, and a separate board will be formed to oversee the alliance.
When asked how the deal will affect Navistar's deal with Cummins, which is supplying some three-quarters of the engines going into International trucks, Troy Clarke, Navistar president and CEO, said, “We anticipate we will continue to offer Cummins products for ...Read the rest of this story
Will your next powertrain feature hybrid drive technology?
A couple of weeks ago, in the wake of the release of the final rule for the U.S. Environmental Protection Agency's Phase 2 Greenhouse Gas regulations, I told Fleet Owner readers the different ways I thought that ruling would affect powertrain development over the next decade.
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Right-sizing Your Fleet
When was the last time you sat down and evaluated whether or not you needed all the trucks you currently have in your fleet? Or if you have the right mix of trucks to efficiently complete all your deliveries?
If you are like most fleet owners, as long as the deliveries are being made, you probably assume that you have the right size fleet for your operation. However, it is very possible that you may have too many trucks in your fleet or the wrong mix of trucks and trailers.
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Trucking gains 3,400 jobs in August
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2017 Cascadia: Driver Comfort & Safety Too
<img width="150" src="http://www.automotive-fleet.com/fc_images/articles/m-new-cascadia-elite-interior-cockpit-package-1.jpg" border="0" alt="
New Cascadia Elite Interior Cockpit Package shown in Saddle Tan and Black. Photo Courtesy of Freightliner.
" >New Cascadia Elite Interior Cockpit Package shown in Saddle Tan and Black. Photo Courtesy of Freightliner.
" width="640">Drivers like or dislike trucks for all sorts of reasons, but it the truck isn't comfortable, quiet and roomy, chances are your drivers might be on the lookout for something better. With recruiting and retention front of mind, Freightliner says the interior of the new Cascadia received more design attention than any previous Freightliner truck.
"We wanted to develop a truck that drivers are proud to drive," says Kary Schaefer, general manager, product marketing and strategy, Daimler Trucks North America. "We think of it as a tool to attract and retain good drivers, so our goal was to make the Cascadia a truck drivers would want to drive."
Out front where you can't really see the improvements, the steering and handling have been improved with the driver in mind. A new front suspension with long taper-leaf springs provides a smoother ride and improved roll stiffness. Also, the steering gear was pushed farther forward to help improve steering precision. Drivers will notice the improvements in sure-footed handling and less jarring when running on rough pavement.
The engine and cab mounts were redesigned as well to provide a quieter environment with less vibration transmitted into the cab structure from the chassis. The engine tunnel cover is now constructed using Quiet Steel technology to keep engine noise out of the cab
Engineers have also used, for the first time, an insulating technology familiar to anyone who has ever worn a winter coat: 3M's Thinsulate, known for its thin structure and very good thermal and acoustic insulating properties. It's optional, but it's hard to imagine fleets operating in northern climes deleting this from the option list.
Inside the cab, drivers will find a striking new dash layout and gauge cluster in the A-panel, ...Read the rest of this story