China market

^{Photo:volvo.com}
Chinese automaker Dongfeng Motor Group is considering selling a stake in a commercial vehicle unit to Volvo. The unit is part of Dongfeng's joint venture with Japan's Nissan Motor Co. The three parties were discussing whether Volvo would replace the Japanese company as Dongfeng's partner in the medium and heavy-duty commercial vehicles arm, the Chinese automaker said in a statement, The Associated Press reported today.

Nissan would then focus on just the passenger car and light commercial vehicle unit, said Dongfeng, which is listed in Hong Kong. Dongfeng said the companies have not entered any binding agreements that will require the approval by the relevant authorities of Beijing.

Dongfeng Motor is owned equally by Nissan and Dongfeng. Under the joint venture, passenger cars are produced under the Nissan brand, while trucks under the Dongfeng name.

Volvo, the world's second-biggest truck maker by sales, has said it was interested in taking over Nissan's stake in Dongfeng's truck unit. Volvo draws most of its truck sales from Europe and North America, and has a market share of just 0.7 percent in Asia, according to the company.

^{Source:www.shanghaidaily.com}