Volvo and Renault S.A. will create joint venture 9 October - 14:17

On October 9, Fineko/abc.az. Car makers Volvo Group and Renault S.A. Group, and also the French logistic operator of CMA CGM plan to create the joint venture (JV) for release of vans with an electric motor. As transfers information portal "Azerbaijan Business Center" with reference to MarketWatch, the Swedish and French autoconcerns invest in the joint venture 300 million euros ($316,5 million) within the next three years and will receive on 50% of actions of future enterprise. CMA CGM intends to enclose in the project of 120 million euros. In the short term Volvo and Renault S.A. will continue search of partners and sources of investments for implementation of the drawn-up plans...