VOLVO TO CREATE AUTOMOTIVE FINANCE FIRM IN CHINA
AsiaInfo Services, August, 2005
AsiaInfo Services 08-22-2005 Volvo to Create Automotive Finance Firm in China CHINA, Aug 22, 2005 (SinoCast via COMTEX) -- Swedish automaker Volvo on August 18 said it has submitted an application to the Chinese government for setting up a wholly-owned automotive finance company in the world's fastest-growing economy.Reports say the automotive finance company, which is projected to be headquartered in Beijing and commissioned next year, will be in the charge of Volvo Financial Services (VFS), which operates in 30 countries and possesses total assets of EUR 7 billion.
The imminent firm will provide financing solutions to commercial transport customers and distributors.Gordon Chan, president of VFS Asian Region, said Gotenburg-headquartered Volvo currently is scaling...
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