China's Dongfeng to sign truck JV with Volvo-report
BEIJING Jan 22 (Reuters) - Major Chinese automaker Dongfeng Motor Group Co has agreed to set up a 55-45 truck venture with Volvo in China, the Chinese Business News said on Tuesday.
Dongfeng, which also makes vehicles in partnership with Nissan Motor Co, will provide manufacturing facilities for the venture, to be based in its home base in Hubei province.
Volvo will provide technology know-how, the newspaper said, citing a unnamed executive at the Chinese company.
Dongfeng declined to comment.
The deal, scheduled to be signed on Jan. 26, will give Volvo an opportunity to tap China's heavy truck market long dominated by local players. (Reporting by Fang Yan; editing by Jonathan Standing)
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