Volkswagen will use Traton proceeds to internationalize truck business: CEO

Volkswagen's CEO Herbert Diess speaks ahead of Volkswagen Group's annual general meeting in Berlin, Germany, May 14, 2019. REUTERS/Hannibal Hanschke

BERLIN - Volkswagen will use proceeds of an initial public offering of its Traton trucks unit to invest in the “internationalization” of the division, Chief Executive Officer Herbert Diess said on Tuesday. Volkswagen on Monday said it would press ahead with a listing of Traton before the 2019 summer break and would invest nearly 1 billion euros in an electric vehicle battery cell plant in Europe.

On the sidelines of VW’s annual general meeting, Diess said no carmaker could manage the transition towards e-mobility on its own and that a charging infrastructure and political support was needed.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Polaris CEO calls potential tariff increase 'downright catastrophic' for businessThe CEO of manufacturing company Polaris is calling an impending tariff increase a catastrophe for his business. Well then maybe they'll realize he's not playing around! Take one for the team
Source: CNBC - 🏆 12. / 72 Read more »

Business Leaders to Talk Trade, Technology and the Environment at WSJ CEO Council in LondonU.S. and European policy makers and senior executives are set to gather in London on Tuesday for the annual European meeting of The Wall Street Journal’s CEO Council.
Source: WSJ - 🏆 98. / 63 Read more »