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January 22, 2014
07:37 EDTVOLVYChinese authority approves JV between Volvo and Dongfeng Motor Group
On January 7, the National Development and Reform Commission in China gave its approval of the establishment of a joint venture between the Volvo Group and Dongfeng Motor Group Company Limited. Before completion of the transaction, additional authority approvals are to be obtained. As announced in January 2013, AB Volvo has signed an agreement with the Chinese vehicle manufacturer Dongfeng Motor Group Company Limited to acquire 45% of a new subsidiary of DFG, Dongfeng Commercial Vehicles, which will include the major part of DFG’s medium- and heavy-duty commercial vehicles business. Through the approval by NDRC an important step has been taken towards completion of the transaction. Completion is subject to certain conditions including the approvals of other Chinese authorities, which have not yet been obtained. Completion of the transaction is currently expected to take place mid 2014. At completion of the transaction, the Volvo Group will significally strengthen its position in the medium-duty and heavy-duty truck segment.
News For VOLVY From The Last 14 Days
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October 1, 2015
05:32 EDTVOLVYALLDATA Europe announces licensing agreement with Volvo
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September 28, 2015
06:57 EDTVOLVYNHTSA mulls Takata air bag recall expansion, Bloomberg reports
The National Highway Traffic Safety Administration, or NHTSA, is mulling an order that would expand that recalls of Takata (TKTDY) air bags and has contacted seven manufacturers who may be affected, including Volkswagen (VLKAY) and Tesla (TSLA), Bloomberg reports. Takata had identified seven companies that it has supplied with air bag inflators that use ammonium nitrate propellant, the report says, citing NHTSA letters dated September 22. The NHTSA also contacted Mercedes-Benz (DDAIF), Jaguar Land Rover (TTM), Suzuki (SZKMF), Volvo Trucks (VOLVY), and Spartan Motors (SPAR), the report says. Reference Link

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