The Chinese partner of Volvo AB is to double the capacity of an engine plant in an effort to boost truck sales. China National Heavy-Duty Truck Corp (CNHTC) is to commit US$252m to the expansion.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The plan will involve moving a plant from the city of Hangzhou to its outskirts. The capacity will increase to 100,000 units per year from 40,000 units now.
Work on the expansion will begin in July 2008, according to a Reuters report.
CNHTC and Volvo each own 50% of the joint venture.
