MUNICH (Reuters) – Volkswagen’s truck unit Traton set out five-year targets during its Capital Markets Day on Tuesday, as it expects to benefit from the shift towards electrification and plans to raise the share of battery electric vehicles in its sales.
The group sees its return on sales rising to 9-11% by 2029 from the current 8-9% and anticipates revenue to grow by 20-40% over the next five years.
The company, which owns the Scania, Man, and Volkswagen Trucks and Buses brands, also plans to fully repay its debt over the period.
In addition, it intends to more effectively develop its North America business, starting with the renaming of its US unit Navistar to International Motors as of Tuesday.
(Reporting by Andrey Sychev, Editing by Rachel More)
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