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Volvo seeks China ties with Nissan

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11:28 CEST+02:00
Swedish truck maker AB Volvo will seek an alliance with the Nissan Motor Co group in a broad range of business in China, including the production of medium-size trucks, the Nihon Keizai Shimbun reported, citing Volvo chief executive Leif Johansson.

The newspaper said Johansson expressed interest in such an alliance at a stockholders' meeting yesterday.

A spokeswoman for Nissan Motor, who asked not to be identified, declined to comment.

The Nikkei quoted Johansson as saying Volvo could become competitive in the Chinese mini-truck market if it builds cooperative relationships with the Chinese authorities and the Nissan Motor group.

The newspaper said Volvo hopes to team up with the Nissan Motor group to produce and supply parts for medium-size trucks, eyeing possible cooperation with Dongfeng Motor Group Co, a Chinese auto maker that is allied with the Nissan Motor group.

Demand in China for medium-size trucks with engine capacity of around 10 litres is growing rapidly, the report said.

Last month, Nissan Motor said it will sell 13% of Nissan Diesel Motor Co to Volvo for 195 million US dollars, leaving Nissan Motor with a 6% stake in Nissan Diesel Motor.

AFP

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