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Volvo plans joint venture with Chinese heavy goods maker

Tuesday, 22 January 2013
Sweden's heavy industrial goods maker, Volvo and the Chinese automotive company, Dongfeng Motor are about to launch a joint venture in the medium and heavy duty trucks, division as Volvo seeks to penetrate more into the vast Chinese market.

According to Swedish media reports, referring to unconfirmed reports in the China Business News, Dongfeng will be owning 55 percent of the joint venture and the Volvo 45 percent.

Also further report from the Shenzhen Daily newspaper mention that that French Renault which just sold its stake in Volvo AB last year intends to enter into a joint venture with Dongfeng Motor, with the intention of being able to produce 150,000 Vehicles annually.
That data report is based on based on a press release from a Chinese environmental agency, according to various news sources monitored from Sweden.
By Scancomark.com Team

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