Volvo in joint venture with Dongfeng and UD trucks

Volvo, Dongfeng Motor Corporation and the Japanese company UD Trucks Corporation through a joint venture, will manufacture commercial trucks in China, considered the world’s biggest market for commercial trucks. Almost 1.3 million heavy-duty trucks were sold in the country in 2011, accounting for nearly half of total global sales. The Chinese market has surged 150% since 2006 and continues to be dominated by local manufacturers like Dongfeng and China FAW Group Corporation. Production of Volvo’s own truck brand in China is slated to begin in 2013, with output growing in stages with a goal of 50,000 trucks after several years. The Swedish truckmaker is now exporting to China Volvo trucks in small volumes. (February 13, 2012)