Volvo Trucks signed a joint venture agreement with China National Heavy Truck Corp. to build trucks in China - CNHTC - international report - Brief Article

Diesel Progress North American Edition, August, 2003 by Mike Mercer

Volvo Trucks signed a joint venture agreement with China National Heavy Truck Corp. (CNHTC) to build trucks in China. The new company, to be called Jinan Huawo Truck Co., will produce trucks at CNHTC's operations in Jinan. An initial capacity of 2000 truck annually is expected and models will include the Volvo FL, FM9 and FM12.

According to Volvo, the goal is to produce 10,000 trucks per year by 2010 with a high degree of local integration. Registered capital for the joint venture company amounts to approximately $70 million and is split equally between the two parties. Production is to start by the end of this year.