The joint venture between Traton, Daimler Truck and Volvo has received the relevant regulatory approvals and will begin operations this year, led by Anja van Niersen.

The Traton group's strategy is to increase profitability and efficiency by reorganising and consolidating its business operations, targeting a 9% return on sales for the entire group in 2024. 

The German parent of several truck and bus manufacturers released its results for the first quarter of 2022, recording a considerable revenue growth of 30% from EUR6.5bn to EUR8.5bn. 

The American company commenced building a 110,000-square-foot extension to the powertrain plant in February 2020, where it will build its parent company's "common modular system" for trucks and buses made in North America.

Group spending in research and development into electric vehicles will increase to EUR2.6bn between now and 2026, adjusting its original budget of EUR1.6bn to 2025.

Sales revenues grew to EUR30.6bn, while the group's adjusted operating income was EUR1.6bn, a 5.2% return on sales.

The paper, published in Nature Electronics, argues that hydrogen technology is unlikely to play a major role in decarbonising heavy-duty vehicles, as the development of battery-electric technologies could soon render fuel-cell electric vehicles "superfluous".

Traton Financial Services, which will be led by Johan Haeggman, has been established in response to a growing demand for more complex and costly product solutions.

Friedrich Baumann, formerly Executive Vice President Commercial Operations at Navistar, and Göran Nyberg, formerly Executive Board member for Sales and Customer Solutions at MAN, swap roles.

Daimler Truck, Volvo Group, and Traton Group have signed a joint venture agreement to install and operate a European charging network for trucks and coaches.

Catharina Modal Nilsson replaces Michael Grahe as CTO, effective 1 January 2022.

Traton brands have sold 53% more trucks and buses and have achieved revenue growth of 38% (EUR21.7bn) in the year-to-date.