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Volvo aims to take 10 percent of China's heavy commercial vehicle market in next five years
Shanghai. November 14 (Gasgoo.com) Swedish truck-maker Volvo AB is targeting 10% of the Chinese heavy commercial vehicle (HCV) market within the next five years, according to Dow Jones News report.
Deputy Chief Executive Jorma Halonen told the Dagens Industri newspaper that new emission standards in China over this period will offer Volvo an opportunity to enter the market.
China will require heavy commercial vehicles to meet Euro III emission standards by 2010 and Euro IV by 2012. Volvo, which has already developed vehicles to meet Euro V standards, will definitely have an edge to other truck-makers operating in the country.
The company is also in talks with one of the country's largest truck-makers Dongfeng over a possible tie-up, but it would need to restructure its current operations in the country in order to comply with Chinese regulations that does not allow foreign automakers to have more two automotive joint ventures (JV) in China.
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