Volvo Trucks discontinues the acquisition of heavy-duty truck manufacturing operation in China
Volvo Trucks will continue to export trucks to customers in China.
Volvo Trucks and Jiangling Motors Co. will not pursue the previously announced transaction involving the acquisition of JMC Heavy Duty Vehicle Co. and its manufacturing site in Taiyuan, Shanxi province, China.
The two parties will not pursue the transaction due to that the conditions for closing the transaction were not met. Volvo Trucks will continue to export trucks to customers in China.
“Volvo Trucks has a long history of successful business activities in China. We have great opportunities in the Chinese market and we will continue the efforts to develop our presence. Our long-term ambition is to grow our business and continue delivering our high-quality trucks to customers in China, together with our dealer partners in the country,” says Roger Alm, President Volvo Trucks.
RELATED ARTICLES
Autocar Professional’s May 15, 2024, issue is out!
This specially curated 64-pager issue offers a review of the key events in the automotive industry in the past few days ...
Varroc Engineering secures Rs 8,700 crore worth new life-time orders in FY24
The company further disclosed that this new order win corresponds to an annual peak value of approximately Rs 1,500 cror...
Mahindra Logistics appoint Vishal Sharma as VP- transport & procurement
Mahindra Logistics appoint Vishal Sharma as VP- transport & procurement