The Volvo Group added another Chinese color movement in China. The Volvo Group Office Building was opened on March 29, 2004 in Beijing. Mr. Leif Johansson, president and CEO of Volvo Group led a high-level Volvo Group delegation of 16 people to China to participate in the delivery ceremony of this modern office building. This marks another milestone for Volvo Group's development in China.
At the Grand Delivery Ceremony, Mr. Leif Johansson, president and CEO of Volvo Group, believes that the rapid development of the Volvo Group in Asia is an effective embodiment of the implementation of the strategic principle of “based on China and expanding Asiaâ€. The tremendous potential for development in the Chinese market is obvious to all. In a sense, whoever leads the Chinese market will have the Asian market and become the world leader in commercial vehicles.
In 1994, Volvo Buses and Xi'an Aircraft Industry Group Co., Ltd. jointly established Xi'an Xiwo Bus Co., Ltd.; in 1997, Wuxi Dahao Power Co., Ltd. was established jointly with FAW Wuxi Diesel Engine Factory.
In 2000, Volvo Buses and Shanghai Automotive Industry Corporation jointly established Shanghai Shenwo Bus Co., Ltd.; in 2001, Volvo Penta (China) Consulting Co., Ltd. was established; in 2001, Volvo Shanghai Parts Co., Ltd. was established, mainly for Volvo. Chinese companies provide spare parts; in 2002, Volvo Construction Machinery (China) Co., Ltd. was founded, and its main products are articulated trucks, wheel loaders, and excavators. In Shanghai, Volvo Construction Equipment was approved to establish its wholly-owned construction machinery manufacturing and manufacturing base in Pudong Jinqiao Development Zone. In April 2003, the plant was officially completed and put into production.
In June 2003, with the approval of the Ministry of Commerce, Volvo (China) Investment Co., Ltd. signed a contract with China National Heavy Truck Group Corporation to establish Jinan Huawo Truck Co., Ltd. The main products are Volvo heavy trucks and various chassis FL/FM/FH series. On March 31, 2004, the first batch of Volvo joint venture heavy trucks will be put off the line at Jinan Huawo Truck Co., Ltd., triggering a shockwave that has a cross-century impact in the domestic heavy truck market.