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Volvo set to be world leader in heavy trucks after China merger
by Staff Writers
Stockholm (AFP) Jan 26, 2013


Volvo Trucks says it expects to overtake Daimler as the world's leading producer of heavy trucks, after acquiring a 45 percent stake in Chinese auto manufacturer Dongfeng.

Currently the world's third biggest producer behind Dongfeng and German-owned Daimler, the merger with its nearest rival will, Volvo believes, elevate it to the top spot.

The Swedish company said in a statement Saturday that it had signed an agreement with Dongfeng Motor Group (DFG) to acquire 45 percent of its new subsidiary Dongfeng Commercial Vehicles (DFCV) that will include "the major part of DFGs medium- and heavy-duty commercial vehicles business."

The deal, worth 5.6 billion yuan ($900 million, 669 million euros), will allow Volvo to "become the world's largest manufacturer of heavy-duty trucks," the statement said.

In 2011 Volvo produced 180,000 units, 6,000 fewer than Dongfeng, but a large part of the Chinese firm's production will pass to the new subsidiary.

The deal should be completed in the next 12 months, Volvo said.

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European collaboration to prepare European electricity networks for influx of electric vehicles
Aalborg, Denmark (SPX) Jan 22, 2013
A European consortium, consisting of DNV KEMA, Fraunhofer ISE, EMD International, RAH and RFVV, has begun an EU funded project to develop modeling and simulation tools for optimally integrating electrical vehicles (EVs) into electricity networks. The project, Novel E-Mobility Grid Model (NEMO), plays a key role in the further development of electric mobility in Europe and will be an important el ... read more


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