SHANGHAI — Volvo Bus Corp. succeeds in winning Chinese government approval for its proposed bus joint venture in Shanghai, just one month before its letter of intent expires. Volvo's bus-making project, an equal JV with Shanghai Automotive Industry Corp., represents a total investment of US$97 million. The new company, which has a registered capital of US$54.2 million, is expected to become China's largest bus-manufacturing base. The newly established JV, named Shanghai Sun Win Bus Co., ...
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