Volvo and Dongfeng team up

摘要

Volvo has signed an agreement with Chinese vehicle manufacturer Dongfeng Motor Group to acquire 45% of a new subsidiary, Dongfeng Commercial Vehicles, which includes the major part of Dongfeng's medium- and heavy-duty commercial vehicles business.It will cost Volvo ￡569m and make the group the world's largest manufacturer of heavy-duty trucks - subject to approval of the anti-trust agencies and Chinese authorities, which both parties believe will be granted within the next 12 months.