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VW makes $9.2B offer for rest of truckmaker Scania

Volkswagen owns or has controlling interests in three commercial truck operations: besides its own, VW began buying shares in Sweden's Scania in 2000 and now controls 89.2 percent of its shares and 62.6 percent of its capital, then bought into Germany's Man in 2006 - in order to prevent Man from trying to take over Scania - and now owns 75 percent of it. The car company has managed to work out 200 million euros in savings, but believes it can unlock a total of 650 million euros in savings if it takes outright control of Scania and can spread more common parts among the three divisions.
It has proposed a 6.7-billion-euro ($9.2 billion) buyout, but according to a Bloomberg report, Scania's minority investors don't appear inclined to the deal. Although effectively controlled by VW, Scania is an independently-listed Swedish company, and a profitable one at that: in the January-September 2013 period its operating profit was 9.4 percent compared to Man's 0.4 percent. Some of the other shareholders believe that Scania is better off on its own and will not approve the deal, some have asked an auditor to look into the potential conflict of interest between VW and Man, while some are willing to examine the deal and "make an evaluation based on what a long-term owner finds is good," which might not be just "the stock market price plus a few percent." The buyout will only be official assuming VW can reach the 90-percent share threshold that Swedish law mandates for a squeeze-out.
Many of the arguments against boil down to investors believing that Scania's Swedishness and unique offerings are what keep it profitable, and ownership by the German car company will kill that. (Have we heard that somewhere before?) If Volkswagen can buy that additional 0.8-percent share in Scania, perhaps its buyout wrangling with Man will give it an idea of what it's in for: "dozens" of minority investors in the German truckmaker have filed cases against VW, seeking higher prices for their shares. It is likely only to delay the inevitable, though. If VW is really going to compete with Daimler and Volvo in the truck market, it has to get the size, clout and savings to do so.

VW decides against active-cooling system for e-Golf lithium battery

When the 2015 VW e-Golf was introduced at the LA Auto Show last year, VW said it would come with a water-cooled battery. During the Detroit Auto Show, when the car was trotted out again, VW released a new press release that stripped out the "water-cooled" language, but this change went unnoticed. During a recent VW event in Germany, a friend from Green Car Reports realized that the battery on display did not seem to have any water-cooling mechanisms. That set us off on a bit of a sleuthing and we have now learned that VW is not going to include any active cooling in the upcoming e-Golf. In fact, the company is entirely confident that this car - because of what it's designed to do - doesn't need it. "The need for a cooling system wasn't there" - VW's Darryll Harrison VW has been working on an electrified Golf for ages now, and so changes to the plan are to be expected. But battery cooling is vitally important not just to keep the car operating properly but because when things get too hot, there can be serious public relations problems. Nissan began testing a new battery chemistry for the Leaf in 2013 after an uproar from warm-weather EV drivers in Arizona who were experiencing worse-than-expected battery performance. The Leaf has always used an air-cooled battery, which is another way to say that there is no active cooling system (more details here). Tesla CEO Elon Musk once said this approach is "primitive." So, why is VW following the same path? We asked Darryll Harrison, VW US's manager of brand public relations west, for more information, and he told AutoblogGreen that VW engineers discovered through a lot of testing of the Golf Mk6 EV prototypes, that battery performance was not impacted by temperatures when using the right battery chemistry. That chemistry, it turns out, is lithium nickel manganese cobalt oxide (NMC) in cells from Panasonic. These cells had "the lowest self-warming tendency and the lowest memory effect of all cells tested," Harrison said. He added that VW engineers tested the NMC cells in places like Death Valley and Arizona and found they didn't warm very quickly either through operation, charging (including during fast charging) or through high ambient temps. "The need for a cooling system wasn't there," Harrison said.

2021 Ford Mustang Mach 1 revealed, plus driving the BMW M8 Convertible | Autoblog Podcast #632

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and News Editor Joel Stocksdale. Before they get to this week's big news, they talk about the cars they've been driving, including the Toyota Land Cruiser, Range Rover Velar SVAutobiography Dynamic Edition, BMW M8 Convertible and BMW 840i coupe. Then they talk about Ford's big reveal of the 2021 Mustang Mach 1. Finally, in lieu of the regular Spend My Money segment, they talk about how Joel recently spent his own money on the newest edition to his personal fleet, a 2013 Volkswagen Beetle. Autoblog Podcast #632 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Toyota Land Cruiser 2020 Range Rover Velar SVAutobiography 2020 BMW M8 Convertible 2020 BMW 840i Fords reveals 2021 Mustang Mach 1 Spend Joel's Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: