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Tuesday, 26 April 2011

Volvo Buses and SAIC Motors form joint company for new energy driveline systems

April 19, 2011

Volvo Buses and Chinese SAIC Motors have agreed to form a new joint venture company. It is a company for driveline systems for new energy buses such as hybrids and electric buses. The new company will be owned by SAIC with 60% and by Volvo with 40%.

Volvo will invest 40M RMB and SAIC 60M RMB in the new company that will be named Shanghai Green Bus Drive System Co and will be based in Shanghai, China, For the past 10 years, Volvo and SAIC have together successfully operated the joint venture company Sunwin Bus, one of the largest city bus manufacturers in China.
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