Sweden's AB Volvo has announced plans to build trucks and buses in Russia through a joint venture with AFK Sistema, a Russian financial and industrial group.
According to Starks News Service the venture will produce about 300 trucks a year, starting this summer, at a plant near Moscow. The company said it may build a new assembly plant if increased demand merits further investment.
Volvo previously signed a letter of intent with the City of Moscow to explore a joint venture with Zil Auto, which builds trucks and limousines. But the two companies were reportedly unable to reach a final agreement. Volvo said it will hold a controlling stake in this new venture but gave no additional details.
Volvo to Build Trucks in Russia
Sweden's AB Volvo has announced plans to build trucks and buses in Russia through a joint venture with AFK Sistema, a Russian financial and industrial group
by Staff
March 1, 20001 min to read
Topics:Equipment
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