CNH ends talks with FAW Jiefang, the eyes of spinoff

CNH Industrial NV has completed talks with Chinese FAW Jiefang Co. about its work on highways and will continue existing plans to allocate the unit.

The industrial equipment manufacturer, whose largest shareholder is the holding company Exor NV, said over the weekend that it had cut off talks with truck manufacturer FAW Jiefang. Instead, it aims to separate the highway, which includes commercial vehicles and the powertrains segment, early next year.

“CNH Industrial believes there are significant opportunities to develop its motorway business by accelerating the introduction of increasingly sustainable transport solutions and infrastructure, in line with the EU’s ambitions for a green deal,” the company said in a statement on Saturday.