X

Volvo, Dongfeng deal gets approval

Jason Cannon May 13, 2013

The European Commission has approved Volvo Trucks’s bid to partner with China’s Dongfeng Motor, clearing the way for the Swedish truck maker to become the behemoth of the industry.

Under the terms of the $900 million deal, Volvo Trucks will receive a 45 percent stake in the Chinese’s company’s Dongfeng Commercial Vehicles (DFCV) unit, giving it joint control with Dongfeng Motor.

The join venture launches Volvo past Daimler as the world’s largest manufacturer of heavy-duty trucks.

Dongfeng Motor and AB Volvo established a strategic joint venture partnership this January, focusing on manufacturing Dongfeng brand commercial vehicles powered by Volvo technology for sale in both China and foreign markets.

Poll

Do you actively capture and use customer data?

Latest

Tech, industry changes driving big changes in equipment trade cycles

Bruckner Truck Sales holds ground breaking for new location

Dealer PROFIT clinics scheduled for September

Popular

Neely Coble Co. chairman passed away

Tech, industry changes driving big changes in equipment trade cycles

Southern Connecticut Freightliner helps raise $1M for Special Olympics

Successful Dealer Award

Click here to read about the award and see the nominees for this year's award.