Volvo ends Chinese truck joint venture

The Vovlvo-China National Heavy Duty Truck Group partnership began 2003, and the joint venture has for various reasons not become the business success that both parties had expected, Volvo said.

The Trucker News Services

11/16/2009

STOCKHOLM — Global truckmaker Volvo Group is ending a joint venture with China National Heavy Duty Truck Group Corp., the company said Monday.

CNHTC  has agreed to purchase all of Volvo's 50-percent equity interest in the Jinan Huawo Truck Corp. a joint venture. The agreement is subject to approval by the Chinese government.

The partnership began 2003, and the joint venture has for various reasons not become the business success that both parties had expected, Volvo said.

The Volvo Group makes trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. Volvo employs about 100,000 people, has production facilities in 19 countries and sells their products in more than 180 markets.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

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