Nordic Business Report - Swedish truck and bus maker Scania AB (STO: SCV B) said today its subsidiary Scania Sales (China) Co Ltd has signed an agreement with Volkswagen Finance (China) Co regarding a cooperation within financial services.
No financial details were available.
The strategic alliance will allow Scania to offer flexible financial solutions, including loans of up to four years, to its customers, the Swedish major said.
Chinese transport companies need a higher level of financial assistance so that they can buy and operate sophisticated vehicles with a high investment cost, Peter Sjoblom, managing director of Scania China, said.
Volkswagen Finance China, as a subsidiary of Volkswagen Financial Services AG, is part of German automotive major Volkswagen AG (ETR: VOW), or VW.
