Volvo Sells Stake in Chinese Truck Company

Chinese regulator authorities have approved an agreement in which Sinotruk Ltd., a wholly owned subsidiary of China National Heavy Duty Truck Group Corp., will purchase all of Volvo Group’s equity interest in Jinan Huawo Truck Corp. Volvo’s stake was about 50 percent of the equity in the company.

The partnership began in 2003.

Volvo Group is based in Goteborg, Sweden.