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TRUCKMAKERS NEWS * Sweden & China: Volvo & Dongfeng
* Sweden / China - Volvo, Dongfeng get first green light for Chinese JV
-Reuters, by Sven Nordenstam & Niklas Pollard; & Mark Potter -Jan 22, 2014: -- World number two truck maker Volvo has received the first approval by a Chinese authority for its planned joint venture with Dongfeng Motor Group... The green light from China's National Development and Reform Commission (NDRC), a macro-economic agency, is the first step in a regulatory approval process at the end of which Sweden's Volvo hopes to have gained a major presence in China... Under an agreement struck a year ago, Volvo will buy 45 percent of a new Dongfeng subsidiary for 5.6 billion yuan ($925 million) which will include the major part of the Chinese firm's medium- and heavy-duty commercial vehicles business... The Swedish truckmaker has estimated the combination of the heavy-duty trucks business of the two companies would have given it a 16 percent share in the Chinese heavy-duty truck market in 2011 and a similar portion of the medium-duty market...
Labels: truckmakers news worldwide
posted by Unknown @ 12:49 PM
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