Volvo Trucks and Jiangling Motors Co., Ltd will not pursue the previously announced transaction involving the acquisition of JMC Heavy Duty Vehicle Co., Ltd, and its manufacturing site in Taiyuan, Shanxi province, China.

The two parties will not pursue the transaction due to that the conditions for closing the transaction were not met. Volvo Trucks will continue to export trucks to customers in China.

Volvo Trucks has a long history of successful business activities in China. We have great opportunities on the Chinese market and we will continue the efforts to develop our presence. Our long-term ambition is to grow our business and continue delivering our high-quality trucks to customers in China, together with our dealer partners in the country.

—Roger Alm, President Volvo Trucks