A PYMNTS Company

China/Sweden: Auto companies pair-up for innovation

By  |  April 9, 2013
China/Sweden: Auto companies pair-up for innovation

A joint venture between Volvo Group and Dongfeng Motor will begin operation in 2014 as a cooperation to create and develop new motor products. Volvo Group’s CEO Olof Persson made the announcement at a roundtable discussion this week. AB Volvo, based in Sweden, announced their plans for a joint venture in January of this year. The companies will service markets within China; Dongfeng will own a 55 percent majority stake in the venture, while Volvo will own the remaining 45 percent and invest more than $891 million into the project. Authorities in Europe and China have yet to approve of the joint venture, however.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: Gasgoo Global Auto Sources

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.