Volvo Trucks Terminates Acquisition of Jiangling Motors' Heavy Truck Production Business in China

Volvo Trucks and Jiangling Motors Co., Ltd. will not proceed with the earlier announced acquisition of Jiangling Heavy Duty Truck Co., Ltd. and its production base in Taiyuan, Shanxi Province, China。

As the closing conditions of the transaction have not been met，The two sides decided not to proceed with the deal.。 Volvo Trucks will continue to provide imported trucks to Chinese customers.。

As Roger, president of Volvo Trucks,•Alm(Roger Alm)What is said：“As the world's leading truck manufacturer,，Volvo Trucks has a long and successful history in China.。We have a huge opportunity in the Chinese market.，And will continue to strive to open up the Chinese market.。Our long-term goal is to develop our business in China.，Together with our distributor partners in China，Continue to provide high quality trucks to customers in China。”

Mr. Dong Chenrui, President of Volvo Trucks China, also said.：“As a multinational commercial Vehicle brand highly integrated with the Chinese market,，Volvo trucks have entered the Chinese market for more than 90 years.。The company continues to introduce leading truck technology into China.，Help customers reduce costs and increase efficiency，Leading the innovation and development of the industry at the same time。We will continue to explore and cultivate the Chinese market.，Provide sustainable transport solutions，To contribute more to the efficient development of China's logistics industry。”

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