Sweden's Volvo Truck Corp. reportedly plans to review its relationship with Japan's Mitsubishi.
According to published reports, Tryggve Sthen, president of Volvo, said the company has been looking over a plan to divide Mitsubishi into passenger car and commercial vehicle divisions, with each unit having capital relations with either the Volvo group or DaimlerChrysler.
Volvo took a 5 percent stake in the Japanese carmaker in 1999. DaimlerChrysler moved this month to purchase a 35% interest in the company.
Sthen also pointed to the possibility of including Renault SA, the Swedish firm's future merger partner, in its alliance with Mitsubishi.
Sthen said DaimlerChrysler's increased stake in the Japanese company "may make Mitsubishi-Volvo relations more complicated and it is not pleasant for us," but stressed that Volvo hopes "to maintain close ties with Mitsubishi."
According to Dow Jones News, DaimlerChrysler AG has apparently been deepening its managerial ties with MMC and Volvo does not want the German Company to have a strong influence over the commercial vehicle division.
It is not yet known when the review will be carried out.
According to published reports, Tryggve Sthen, president of Volvo, said the company has been looking over a plan to divide Mitsubishi into passenger car and commercial vehicle divisions, with each unit having capital relations with either the Volvo group or DaimlerChrysler.
Volvo took a 5 percent stake in the Japanese carmaker in 1999. DaimlerChrysler moved this month to purchase a 35% interest in the company.
Sthen also pointed to the possibility of including Renault SA, the Swedish firm's future merger partner, in its alliance with Mitsubishi.
Sthen said DaimlerChrysler's increased stake in the Japanese company "may make Mitsubishi-Volvo relations more complicated and it is not pleasant for us," but stressed that Volvo hopes "to maintain close ties with Mitsubishi."
According to Dow Jones News, DaimlerChrysler AG has apparently been deepening its managerial ties with MMC and Volvo does not want the German Company to have a strong influence over the commercial vehicle division.
It is not yet known when the review will be carried out.
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