Volvo to set up jv with Chinese firm

Newswire

STOCKHOLM, Jan 28 (Reuters) - The world's second biggest truck maker Volvo of Sweden said on Wednesday its Renault Trucks unit had agreed to set up a joint venture with Chinese truck producer Dong Feng Motors. Under the agreement Renault Trucks will buy a stake in Dong Feng Liuzhou Motors, a Dong Feng subsidiary, in 2004. The stake size and price have yet to be decided. The Chinese joint venture is to produce 7,000 trucks a year for the Chinese market in five years time, Volvo said in a ...

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