Volvo: The World’s Biggest Truck Builder?
BRUSSELS — Is Volvo poised to become the world’s biggest truck maker?
The answer is yes, if a proposed partnership with China’s Dongfeng Motors goes through.
On Wednesday, according to The Economic Times of London, the European Commission approved the partnership and under the deal, Volvo would acquire 45 percent of Dongfeng’s Commercial Vehicles unit.
That would give Volvo joint control, with Dongfeng Motors, of the truck-building giant.
The Wall Street Journal reported that the initial investment would cost Volvo almost $900 billion.
Volvo is currently ranked third behind Dongfeng and Daimler. The partnership, which could take up to a year to pass all the required approvals, will give the joint venture top spot.
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