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Volvo Cars acquires control of its China joint ventures for US$256M

Volvo Cars has taken control of its three joint venture operations in China for SEK2.2 billion (US$256 million) in order to more accurately reflect its growing presence in the world’s largest car market.

Volvo Cars now owns 50% of its China joint ventures alongside Geely Holdings. These joint ventures include its car manufacturing facilities in Chengdu and Daqing; its engine manufacturing facility in Zhangjiakou; and its research and development center in Shanghai.

The move allows Volvo to fully consolidate its China joint ventures, providing a more accurate financial and operational picture of the company as it continues to expand in China.

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