China's Dongfeng to tie up with Volvo -co official
BEIJING Jan 23 (Reuters) - Chinese state-owned auto maker Dongfeng Motor Group Co. is set to announce as early as this weekend a strategic alliance with Swedish truck maker Volvo AB, according to a Dongfeng official.
The official, who declined to be identified because the information has not been publicly released, said Dongfeng may gain access to Volvo technology, through the deal. He declined to give further details.
Chinese media reports on Tuesday had said the deal is likely to involve a joint venture to produce and market Volvo trucks in China.
Dongfeng is a major exporter of heavy trucks to emerging markets, including Africa and South America, and the alliance would help the company further expand its global reach, the official added.
Volvo, the world's No.2 truck maker, said in December it would cut back production in North America due to tough conditions.
Dongfeng will hold a media event in Beijing on Saturday to announce the signing of a strategic alliance with one of the world's leading commercial vehicle manufacturers, according to the invitation to the event.
A spokesman for Dongfeng declined to give details. (Editing by Jonathan Standing)
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