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Business News

Ownership

Germany

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HVAC Systems

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Ownership

Thermal CV division of Valeo separates from parent under old name of ‘Spheros’

By Bradley Osborne – 2nd August 2024

On its website, Spheros is promoting thermal management products for various applications, including buses, refrigerated vehicles, and e-mobility.

Austria

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Germany

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Agreement

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Ownership

Krone to invest in Schwarzmüller as part of “strategic partnership” agreement

By Bradley Osborne – 29th July 2024

The deal is subject to approval: if permitted by the antitrust authorities, Krone will make use of Schwarzmüller’s sales and manufacturing footprint to extend its market presence in Europe and expand its distribution capacity.

Belgium

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Achievement

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Ownership

Van Hool delivers 100th trailer under new GRW ownership

By Bradley Osborne – 23rd July 2024

Production of Van Hool semi-trailers – which include tankers, container chassis, and flatbeds as well as conventional box and curtainsided trailers – resumed on 29 April following the intervention of GRW, together with VDL Groep, to take over the company.

Germany

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Investment

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Ownership

Traton shares uplisted to MDAX on Frankfurt Stock Exchange

By Bradley Osborne – 26th June 2024

The group’s uplisting to the MDAX is recognition of its middle level, or “mid-cap”, market capitalisation.

USA

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Mergers, Acquisitions & Disposals

Exro Technologies and SEA Electric merger finalised

By Luke Willetts – 29th May 2024

The Board of Exro Technologies Inc of Calgary, Alberta, Canada, has approved the proposed merger with Los Angeles-based retrofit firm SEA Electric Holdings Pty Ltd, first announced in February this year.

Belgium

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Ownership

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Legal

Van Hool declares bankruptcy; bid from VDL and GRW accepted

By Bradley Osborne – 15th April 2024

No further details have been announced, except that the two partners will initially keep between 650 and 950 Van Hool workers in employment.

Japan

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Agreement

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Autonomous Vehicles

Isuzu in capital tie-up with self-driving company

By Will Pulson – 13th April 2024

As part of the agreement Isuzu states it will make a substantial investment in the local Nagoya-based autonomous driving technology company.

Japan

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Battery Systems, Supercapacitors & Solar

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Ownership

Toyota to take full control of battery JV with Panasonic

By Will Pulson – 6th April 2024

Formed in 1996, Toyota had gradually increased its stake in the JV andcurrently holds 80.5% of the shares and Panasonic the remaining 19.5%.

China

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Agreement

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New Company

Bosch Venture Capital and others invest in Foton’s new, new energy commercial vehicles manufacturing company

By Will Pulson – 5th April 2024

The Cavan brand was established by a joint venture called Beijing Cavan New Energy Vehicle Company Ltd (Cavan Auto), formed in 2023 with a registered capital of CNY500m (USD290m), in which Foton owns a 65% stake, Bosch Venture Capital 10% and the remainder is split between the other financial institutions.

India

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Agreement

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Ownership

Mitsui and VDL to invest in electric bus builder Pinnacle Mobility

By RACE Innovations Pvt Ltd – 6th March 2024

Pinnacle Mobility, which sells vehicles under the brand name, EKA Mobility, is an electric bus as well as a light and medium-duty electric truck builder.

China

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Japan

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Agreement

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Ownership

Hino cuts stake in JV with GAC

By Will Pulson – 29th February 2024

Hino's shareholding is to be cut from 50% to 4.83% in GAC Hino Motors Company Ltd, with a 39.72% stake being transferred to Guangzhou Automobile Group.

USA

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Diesel Engines & Engine Components

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Ownership

Cummins launches exchange offer for Atmus shares as part of divestment from filtration business

By Bradley Osborne – 26th February 2024

Cummins is offering its remaining stake (80.5%) in Atmus to its shareholders, who have the option of exchanging Cummins common stock for shares in Atmus (at a 7% discount).

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Truck & Bus Builder is a specialist publishing company providing news and statistical analysis about the world commercial vehicle manufacturing industry.

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    • Battery Electric
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    • AI, Digitalisation & Robotics
    • Alternative Fuel Engines
    • Autonomous Vehicles
    • Axles & Suspensions
    • Battery Systems, Supercapacitors & Solar
    • Body & Cab Components
    • Brakes & Braking Systems
    • Chassis Components
    • Connectivity
    • Diesel Engines & Engine Components
    • Electric Drive
    • Electrical Systems & Components
    • Emission Control Systems
    • Fuel Storage Systems
    • Gas Engines
    • H2 IC Engines & Components
    • HVAC Systems
    • Hybrid Drive
    • Hydrogen Fuel Cells
    • Interior Components
    • Refrigeration Systems
    • Steering Systems
    • Transmissions
    • Wheels & Tyres
  6. Infrastructure
    • Alternative Fuels
    • Diesel / Bio-Diesel Fuel
    • Electric Charging
    • Hydrogen Fuel
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