Arab Today, arab today volvo set to be world leader in heavy trucks
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

Volvo set to be world leader in heavy trucks

Arab Today, arab today

Arab Today, arab today Volvo set to be world leader in heavy trucks

Detroit - AFP

Volvo Trucks says it expects to overtake Daimler as the world's leading producer of heavy trucks, after acquiring a 45 percent stake in Chinese auto manufacturer Dongfeng. Currently the world's third biggest producer behind Dongfeng and German-owned Daimler, the merger with its nearest rival will, Volvo believes, elevate it to the top spot. The Swedish company said in a statement Saturday that it had signed an agreement with Dongfeng Motor Group (DFG) to acquire 45 percent of its new subsidiary Dongfeng Commercial Vehicles (DFCV) that will include "the major part of DFG?s medium- and heavy-duty commercial vehicles business." The deal, worth 5.6 billion yuan ($900 million, 669 million euros), will allow Volvo to "become the world's largest manufacturer of heavy-duty trucks," the statement said. In 2011 Volvo produced 180,000 units, 6,000 fewer than Dongfeng, but a large part of the Chinese firm's production will pass to the new subsidiary. The deal should be completed in the next 12 months, Volvo said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today volvo set to be world leader in heavy trucks Arab Today, arab today volvo set to be world leader in heavy trucks

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today volvo set to be world leader in heavy trucks Arab Today, arab today volvo set to be world leader in heavy trucks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday