Doosan Infracore Sale to Hyundai Heavy Industries Holdings Co
Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE) as two independent construction equipment companies under HHIH. HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both DI and HCE to maximize the company’s efforts and focus on the construction equipment industry. Together the two brands will combine as a global top player, putting us much closer to achieving the goal of becoming a global top 5 player. Source
Volvo Trucks acquires heavy-duty truck manufacturing operation in China
Volvo Trucks has agreed to acquire JMC Heavy Duty Vehicle Co., Ltd., a subsidiary of Jiangling Motors Co., Ltd., which includes a manufacturing site in Taiyuan, Shanxi province, China, for an amount of RMB 0.8 billion (approximately SEK 1.1 billion). The objective is to start production of the new heavy-duty Volvo FH, Volvo FM and Volvo FMX trucks in Taiyuan for customers in China from the end of 2022. Source