Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division’s revenues were down 13.9% due to unstable geopolitical and market conditions. 2024 revenues came in at EUR 3.84 billion (2023: EUR 4.18 billion). Order intake was down 14.6% at EUR 3.74 billion (2023: EUR 4.21 billion).

Knorr-Bremse's 2018 IPO provided financial flexibility for future success. By 2023, the company held 12,000 patents and generated approximately EUR 7.9 billion in annual revenue.

This sale is part of Knorr-Bremse's Boost 2026 strategy, aimed at optimising its portfolio and focusing more on its core competencies.

This sale is part of Knorr-Bremse's Boost 2026 strategy, aimed at optimising its portfolio and focusing more on its core competencies.

This sale is part of Knorr-Bremse's Boost 2026 strategy, aimed at optimising its portfolio and focusing more on its core competencies.

June saw Knorr-Bremse open a new manufacturing plant in Dalian in China’s Liaoning province, as it looks to increase its share of the local market for commercial vehicle braking systems.

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).

Knorr-Bremse will retain 15% equity in the company, and has committed to remaining a “strategic partner.” Ultimately, the sale falls under Knorr-Bremse’s Boost program, “a strategic initiative aimed at fostering sustainable and profitable growth through various strategic actions.” One of those actions is streamlining business operations by concentrating on core competencies.

MAN has now built a prototype vehicle, with sensors on the roof and sides of the cab. The vehicle has already successfully covered its first kilometres at MAN's Munich test site and was due to undergo real road testing before the end of 2023.

According to group figures, the Commercial Vehicle Systems (CVS) Division has profited from positive market developments, with incoming orders and an order book of EUR 2,212 million, up 15.8% on the previous year’s corresponding order book value (H1/22: EUR 1,911m).

The contract is to equip more than 500 buses operated by Verkehrsbetriebe Hamburg-Holstein GmbH (VHH) with the retrofittable ProFleet Assist+ Gen 2 turning assistant, with an option to upgrade another 100 buses.

The brake manufacturer has recommitted itself to its decarbonisation effort by issuing a EUR 700 million Sustainability-Linked Bond (SLB) at the European debt capital markets day in September this year.