Signing Ceremony For Volvo Trucks' Acquisition of JMCH Equity Was Held
Volvo Trucks has agreed to acquire JMC Heavy Duty Vehicle, a subsidiary of Jiangling Motors, which includes a manufacturing site in Taiyuan, Shanxi province, China, for an amount of RMB 0.8 billion. The objective is to start production of the new heavy-duty Volvo FH, Volvo FM and Volvo FMX trucks in Taiyuan for customers in China from the end of 2022. The operations in Taiyuan will include stamping, welding, manufacturing of cabs, painting and the final assembly of Volvo trucks. After investment, within a few years, the plant will have the capacity to produce 15,000 Volvo trucks per year with the potential to increase the capacity further.
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