The stock listing has unlocked extra money for the company's ambitious plans in the EV sector.
- shares

Volkswagen has floated 11.5 per cent of its truck-making unit, now named Traton, on the Frankfurt and Nasdaq Stockholm stock exchanges.

Weak demand from investors had forced the automaker to price the listing at the low end of its target price range. It also meant the company couldn't float the 25 per cent it had wanted to let go of.

On Friday, 57.5 million shares in Traton were listed on the Frankfurt and Stockholm exchanges at €27 ($44.23) each, and helping to swell the Volkswagen Group's coffers by €1.55 billion ($2.54 billion).

At the time of writing, the shares are trading a little below their original list price.

The Traton group includes the well-known MAN and Scania truck brands, as well as Volkswagen Caminhões e Ônibus, which specialises in truck and bus chassis for Latin America and Africa, and Rio, a cloud-based logistics company.

Last year Traton sold around 230,000 vehicles, employed roughly 81,000 people, and generated €28 billion ($45.9 billion) in revenue.

The Volkswagen Group is spending roughly €40 billion ($65 billion) to engineer an extensive range of electric cars, including affordable vehicles based on the new MEB platform, as well as more exclusive vehicles, like the Porsche Taycan and Audi E-Tron GT.