Renault Trucks has signed an agreement with Chinese truck maker Dong Feng Motors to jointly manufacture trucks and truck parts in China.
The deal allows the Volvo subsidiary to acquire a portion of Dong Feng Liuzhou Motors, a subsidiary of Dong Feng. Both sides hope to finalize the deal this year, but it first must be approved by Chinese authorities.
Volvo officials said it hopes that Renault and Dong Feng will produce 7,000 trucks annually for the Chinese market.
