Logo 468


Advertisement:

Job section - 468

Volvo becomes world's largest truck manufacturer


Linda Genborg 2013-01-28

Image:Volvo Group

Volvo AB will become the world’s largest manufacturer of heavy-duty trucks after acquiring 45 per cent in a new subsidiary of China's Dongfeng Motor Group.

“This is a very exciting venture that will combine the best of two worlds, strengthening the positions of the Volvo Group and Dongfeng and offering excellent opportunities to both parties,” said Volvo’s President and CEO Olof Persson in a press statement.

The new company is called Dongfeng Commercial Vehicles (DFCV), and it includes the major part of Dongfeng’s medium- and heavy-duty commercial vehicles business.

“Combining Dongfeng’s strong domestic position and know-how with the Volvo Group’s technological expertise and global presence will offer DFCV excellent potential for growth and profitability in and outside China,” said Olof Persson.

“China is the world’s largest truck market with a total market for heavy trucks equivalent to the European and North American markets combined.”

The agreement was signed on Saturday and means the Volvo Group will acquire 45 per cent of the new company for almost 5.8 billion kronor.

“With some pride I can say that this is the largest Swedish industrial investment in China ever," said Olof Persson on the phone from Beijing to Göteborgs-Posten.

Olof Persson also said that the deal could have positive effects for jobs in Gothenburg.

“Our experience from growing with the emerging countries and establishing us there is that it generates activities in all of Volvo, when it comes to research and development, production technologies, the IT system and much else. This has over time provided more jobs in Gothenburg. It is impossible to guarantee anything, but we see no reason for why this wouldn’t follow the same patterns as we have seen on the other occasions.”


Post comment     Tip a friend     Print






News (SECTION BANNER)

Instagram riot: film project gets funding


Gothenburg’s "Instagram riot" may soon hit the big screen. A series based on the event is among the 10...

More

The Alliance reveals election manifesto

Party leaders Göran Hägglund (Christian Democrats) Annie Lööf (Centre Party), Jan Björklund (Liberals) and Fredrik Reinfeldt (Moderates) presenting The Alliance election manifesto

Sweden’s centre-right Alliance government unveiled its joint election manifesto on Monday, which...

More

C1

Gothenburg tops LGBTQ list


The City of Gothenburg is Sweden’s best municipality when it comes to conditions for LGBTQ people,...

More

Budget issues with West Swedish Package


The West Swedish Package (Västsvenska Paketet) has become too expensive and several planned construction...

More

C2

Strong support for hunger strikers


The Palestinian demonstrators at Järntorget were shown huge support yesterday by around 500 people at an...

More

Court rejects Nevs’ reorganisation request


Saab maker National Electric Vehicle Sweden (Nevs) said its plans to appeal after its application for...

More

Social Dems fall but red-greens should hold power


The Social Democrats have lost ground in Gothenburg, but the red-greens will continue to steer the...

More

Congestion tax may be losing its effect


Gothenburgers are getting back in their cars despite the congestion charges, suggests new statistics from the...

More

Volvo Cars presents new model to Gothenburg


Gothenburg residents will be given a sneak preview of Volvo Cars new XC90, which will be mass produced in the...

More

‘A new era for Volvo Cars’

The all-new XC90

Volvo Cars unveiled its new XC90 SUV to around 700 journalists from around the world in Stockholm on Tuesday....

More

New children’s hospital given green light

Illustration of the new hospital's exterior

A new ultra-modern children’s hospital will be built in Gothenburg following a decision from the county...

More

Politicians positive about congestion charge support

<span>A congestion charge control point at Stigberget in western Gothenburg</span>

Politicians are pleased that more Gothenburg residents are in agreement with the congestion charge, reports...

More

New Volvo premieres today

<span>Front view of the all-new XC90</span>

The all new XC 90 Volvo will be having its world premiere in Värmdö outside Stockholm today,...

More

Thousands without connectivity


Thunderstorms have caused major problems for the telecommunication networks in West Sweden which may not be...

More

Intoxicated thieves try to outrun police


Two car thieves under the influence of drugs were arrested after a police car chase early Tuesday morning.

More

Body parts found in west coast field


Police in West Sweden said on Monday that they had found human body parts in a field in Näsinge, outside...

More

Thousands rally against neo-Nazi party


A few thousand people demonstrated against the neo-Nazi political party “Party of the Swedes”...

More

Mother faces trial after son overdosed


A Borås woman has been accused of trying to kill her handicapped adult son by giving him extremely high...

More

Dramatic storm in Gothenburg

The storm cloud rolling in over western Gothenburg on Sunday evening

The Gothenburg region was hit by severe thunderstorms on Sunday night, with nearly 800 lighting strikes...

More

Bomb scare false alarm


Yesterday police cordoned off an area of J Sigfrid Edström street in Gothenburg due to a bomb scare.

More

Tom Johnstone to leave SKF

SKF's Scottish CEO Tom Johnstone will step down from his post at the end of the year

CEO Tom Johnstone will be leaving his post at SKF at the end of this year, announced the Gothenburg company...

More

Basement overrun with rats


Hundreds of rats have taken over a basement bathroom in an apartment block in Hammarkullen.

A son to one of...

More
More articles (for front page)

Weather warning for Gothenburg

Cars destroyed by fire

Moderate pol opposes West Link tunnel

Sales trend may create jobs at Volvo Cars

Volvo Cars posts ‘solid’ half-year result

Floods continue in West Sweden

Lindex collaborates with Gaultier

Heavy rain causes floods in Halland

Heavy rain may hit Gothenburg

Man found shot in Bergsjön

Minister attacked with cake

Social Dems promise to raise teachers’ salaries


Main partners:

Main Partners (uni collaboration)

Social media:

Linda's twitter logo 2

Facebook







BRG Expat Guide



Advertisements:

Business Region Göteborg

Nordstan D

Most read

Book Fair 2014

Search          Search help

Tip the editor