AB Volvo to buy Chinese vehicle company for around SEK 1.1 billion By Reuters

STOCKHOLM (Reuters) – Swedish truck maker AB Volvo said on Monday that it had reached an agreement with China’s JMC Heavy Duty Vehicle Co. Ltd., a subsidiary of Jiangling Motors Co. Ltd., for around SEK 1.1 billion ( $ 125.7 million).

The acquired company, which includes a manufacturing site in Taiyuan, China, and Volvo said in a statement its intention to start production of its new heavy-duty trucks Volvo FH, Volvo FM and Volvo FMX at the end of the year. next.

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