BEIJING Jan 22 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
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)