Volvo, SAIC Tie up in Transmission Gear JV

(Shanghai) -- Volvo Group and China's largest automaker SAIC Motor Corp. (SSE: 600104) will invest 100 million yuan in a joint venture for assembling transmission gear used for alternative energy-driven cars.

Volvo holds a 40 percent stake in the venture called Shanghai Green Bus Drive System Co., which will start production in the second half of this year, Volvo Deputy President Jiang Lan said at a car show in Shanghai.