Volvo signs agreement with Dongfeng

Volvo is set to become world’s largest heavy-duty truck manufacturer following a strategic alliance with Chinese company, Dongfeng Motor Group. AB Volvo has signed an agreement with the Chinese vehicle manufacturer Dongfeng Motor Group Company Limited (DFG) to acquire 45% of a new subsidiary of DFG, Dongfeng Commercial Vehicles (DFCV), which will include the major part of DFG’s medium- and heavy-duty commercial vehicles business. At completion of the transaction, the Volvo Group will become the world’s largest manufacturer of heavy-duty trucks. Continue reading