Dongfeng Motor Corp has agreed to form joint venture with Volvo

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BEIJING – Dongfeng Motor Corp has agreed to form a joint venture with Swedish truck maker Volvo, a Chinese business newspaper reported recently.

The Economic Observer report cited anonymous insiders saying the joint venture will be formed next year with Dongfeng holding a 55 percent share and the remainder owned by Volvo.

Volvo’s truck unit is independent from its car busines, which was sold by Ford to Zhejiang Geely Holding Group last year.

Full story: Report: Also a new Volvo truck tie-up|Companies|

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Kells Hetherington