Fleet News

LDV stays independent - for now

VAN maker LDV will carry on as an independent entity after negotiations with Volkswagen about buying a 50% stake in the firm from Daewoo broke down. Volkswagen was involved as a potential partner for the West Midlands firm after Daewoo's financial problems came to light last year.

LDV will now back out of its partnership with Daewoo and continue as an independent company and has not ruled out staying independent indefinitely. Volkswagen emerged as favourite to join a partnership late last year after six months of talks but neither LDV nor Daewoo revealed the identity of the third party.

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