Volvo Group to provide financial services in China
The Volvo Group has applied to establish a wholly-owned finance company in China to offer financing solutions for its commercial transport customers and dealers. The new company, to be named “Volvo Group Automotive Finance (China) Ltd.”, will be based in Beijing and expects to start operations in 2006.“To our knowledge, we are the first applicant for a Chinese automotive finance company license with a main focus on providing commercial transport solutions,” says Gordon Chan, President of Region Asia for Volvo Financial Services. “Offering financing in China is of strategic importance to