Traton has signed a framework agreement with its parent company, Volkswagen, which outlines the terms for selling and transferring the rights to provide financial services for MAN and Volkswagen Truck & Bus to Traton Financial Services.

The dissolution decision follows a meeting of the Hino board on April 26, 2023.

Once it is outfitted with equipment, the factory will employ more than 160 people, who will be engaged in producing an internal combustion engine platform for new vehicles sold under Traton’s brands.

The Global Product Management position is a new role, created in order to foster strategic and operational cohesion between the group’s four subsidiaries, while the role of Finance and Human Resources combines two board positions which were previously separate.

Sales of vehicles made by Traton's brands increased by 12.6% from 271,200 units to 305,500 in 2022.

Volvo Group, Daimler Truck, and Traton Group have announced that their heavy vehicle charging joint venture will operate under the name Milence BV, based in Amsterdam.

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.