Volvo Trucks Acquires Heavy-duty Truck Manufacturing Operation in China
CHINA, August 24 -- Volvo Trucks has agreed to acquire JMC Heavy Duty Vehicle Co., Ltd., a subsidiary of Jiangling Motors Co., Ltd., which includes a manufacturing site in Taiyuan, Shanxi province, China, for an amount of RMB 0.8 billion (approximately SEK 1.1 billion). The objective is to start production of the new heavy-duty Volvo FH, Volvo FM and Volvo FMX trucks in Taiyuan for customers in China from the end of 2022.
Volvo Trucks has been active in the Chinese market since 1934. During the last couple of years, the strong growth of logistics services, including e-commerce, has led to a surge in the sales of Volvo trucks in the country. In 2020, more than 4,500 heavy-duty Volvo trucks were imported and delivered to customers in China. In line with the long-term Volvo Group strategy, Volvo Trucks is therefore expanding its business operation in China.
“We are committed to shaping the future of sustainable transport solutions. With our long-standing presence in China, we are growing our sales, and we are expanding our strong network of sales and service points together with our private dealer partners. Over the last couple of years, we have seen a fast development of the logistics markets and an increasing demand for our premium trucks and services. To meet the demand from Chinese transport operators, the time is right for us to establish a regional value chain with our own heavy-duty truck manufacturing in China,” says Roger Alm, President Volvo Trucks.
The operations in Taiyuan will include stamping, welding, manufacturing of cabs, painting and the final assembly of Volvo trucks. After investment, within a few years, the plant will have the capacity to produce 15,000 Volvo trucks per year with the potential to increase the capacity further.
The transaction is subject to customary closing conditions, including regulatory approvals.
- Jiefang's Engine Export Up 56% in the Fist Six Months 2021-06-30
- More than 2,800 Exhibitors to Participate in Bauma CHINA 2020-11-18
- ZF CEO: China Is the Most Promising Market 2020-08-10
- XCMG Signed a Strategic Cooperation Agreement with China Unicom on 5G 2019-12-10
- China Oct Heavy Truck Sales Reached 90,000 Units 2019-11-05
- China Sold 302,000 Units Trucks in September 2019-10-18
- Yuchai Brings Latest Engine Products on Display at China-ASEAN Expo 2019-10-15
- ConMet Committed to Promote China Market Since Its Entrance in 2009 2019-10-12
- XCMG Showcase Its High-quality Products at the 16th China-ASEAN Expo 2019-10-11
- SHACMAN Celebrates the 70th Anniversary of The People's Republic of China 2019-10-08
Submit Your Requirements, We Are Always At Your Service.
- BYD Introduces Next Generation Electric Trucks at ACT Expo
- FULONGMA Ranked in Top 50 Environmental Enterprises in China
- Volvo Trucks Acquires Heavy-duty Truck Manufacturing Operation in China
- SANY Opens a New Branch in Scotland
- Daimler and Cummins Signed GFA for Cooperation in Medium-duty Engines
- FAW Jiefang Rolls Off Its 8 Millionth Vehicle
- A New Truck for a New Era: Mercedes-Benz eActros Celebrates Its World Premiere
- ZOOMLION Looks to Expand the EU Market with Its New Factory Inaugurated
- CIMC Teams up with Shaanxi Automobile to Make a Flagship High-end SPV
- JAC Exhibited In Kazakhstan Auto Show
C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
- Weichai Power 2021 Interim Performance in A Glimpse
- SHACMAN Tops the List of the Dumper Sales in July
- Top Ten Tractor Manufacturing Companies in China in July
- Light Truck Sales in the First Seven Months Reached 1300,000 Units
- GWM Sold 91,555 Vehicles Worldwide in July, up 16.9% Year-on-Year
- China Sold 1.044 Million Units Heavy-duty Trucks from January to June
- Geely Yuan Cheng Reports 626% Rise in H1, 2021
- Foton January to June Sales Volume 411,962 Units,YOY 28.67 %
- China Truck Export Jumped by 133% from January to May
- Foton Overseas Sales Volume Breaks 30,000 Units in H1, Up 67.7% YOY