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China, Sweden Join Hands to Produce Heavy Duty Trucks
China National Heavy Duty Truck Group (NHDTG) have signed a cooperation frame with Swedish Volvo Corporation, Ma Chunji, CEO of NHDTG said Monday.
The two sides will set up a joint-venture company in Jinan, the capital of east China's Shandong province.
Ma said that the cooperation will provide opportunities for China to strengthen ties with foreign companies.
The joint effort will also help lay a solid foundation for China to compete in the global market after China joins the World Trade Organization.
China has a very big potential market for heavy-duty trucks which will be further promoted by the policy to develop its western regions, the major construction projects and Beijing's preparation for the 2008 Olympics, according to a senior official with Volvo.
The joint-venture company, with an annual output of 2,000 vehicles, will be built on the basis of a Jinan-based company, a subsidiary to NHDTG.
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