Dongfeng Volvo becomes the Largest Tuck Maker in the World

www.chinatrucks.com : New progress has been seen in the cooperation between DAF and AB Volvo. As the reporter learned, the program has been approved by the EU, and the companies have jointly come as the largest truck maker in the world, surpassing Mercedes of Germany.

The recent cooperation between Dong Auto and Volvo has proven that Chinese vehicle makers are not only “manufacturers” for foreign partners, but could also have a brand of their own. Aldo, by cooperating with Volvo, Dongfeng aims to expand overseas markets. Dongfeng bought 70% shares of T Engineering AB, which will be the company’s first R&D center abroad.

In January this year, Dongfeng and Volvo signed the agreement in Beijing, the later one will invest ￥5.6 billion, gaining 45% share of the joint venture. Since Dongfeng and Volvo are the third and second largest truck makers in the world, the cooperation makes the joint venture the largest truck maker in the world. The joint venture is expected to go into operation in the second half this year.

Views:0