Volvo Trucks and Jiangling Motors Terminate Proposed Chinese Acquisition Deal

Volvo Trucks and Jiangling Motors have jointly decided to cancel the previously announced transaction regarding the acquisition of JMC Heavy Duty Vehicle Co. and its manufacturing site in Taiyuan, Shanxi province, China. After careful consideration, both parties have concluded that the conditions required for closing the transaction were not met. This decision marks the end of the proposed acquisition between the two companies.

Reasons for Cancellation of the Transaction

The cancellation of the acquisition deal between Volvo Trucks and Jiangling Motors can be attributed to the failure to fulfill the necessary conditions for its completion. While the specific details surrounding these conditions have not been disclosed, it is clear that they were not met to the satisfaction of both parties involved. Consequently, the decision to terminate the transaction was made in the best interest of all parties.

Volvo Trucks to Maintain Truck Exports to China

Despite the cancellation of the acquisition deal, Volvo Trucks remains committed to serving its customers in China. The company will continue to export its high-quality trucks to meet the demands of the Chinese market. This decision ensures that Volvo Trucks can maintain its presence and continue providing reliable and efficient transportation solutions to its customers in China.

Volvo Trucks' Successful Business Activities in China

Volvo Trucks has a rich history of successful business activities in China. Over the years, the company has established itself as a trusted and reputable brand in the Chinese market. By delivering exceptional quality trucks and providing excellent customer service, Volvo Trucks has built strong relationships with its customers and dealer partners in China. The company acknowledges the immense opportunities that the Chinese market offers and remains dedicated to further developing its presence in the region.

Long-Term Ambitions for Growth and Presence in China

Looking ahead, Volvo Trucks maintains a long-term ambition to expand its business and strengthen its presence in China. The company recognizes the potential for growth in the Chinese market and is committed to capitalizing on the opportunities available. Volvo Trucks, together with its dealer partners in China, will continue their joint efforts to deliver high-quality trucks and meet the evolving needs of customers. By focusing on growth and maintaining a customer-centric approach, Volvo Trucks aims to solidify its position as a leading provider of transportation solutions in China.