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By Bloomberg

Volkswagen AG created a holding company for its MAN and Scania heavy-truck units in the latest effort to kick-start cost savings and cooperation efforts after buying the former rivals.

VW’s controlling stakes in Munich-based MAN SE and Sweden’s Scania AB will be pooled into the German automaker’s Truck & Bus GmbH subsidiary, the Wolfsburg-based company said Tuesday in a statement.

“Bringing together our commercial vehicle brands under one roof means we can focus more strongly on the needs of the truck and bus business and can therefore accelerate the decision- making process,” Andreas Renschler, who will head the commercial vehicles unit, said in the statement.

Volkswagen has been struggling to create a global heavy trucks business that can compete with industry leaders Daimler AG and Volvo AB. Europe’s largest automaker has reaped limited financial rewards for the billions of euros invested in the last decade to purchase Soedertaelje-based Scania and MAN.

VW’s commercial vehicles unit, which makes delivery vans, will report to Renschler and be part of the company’s commercial vehicles group. But it will still maintain close ties with the namesake passenger car brand, where there are more synergies, VW said.