AB Volvo signs memorandum of understanding with DEUTZ AG
AB Volvo has signed a non-binding memorandum of understanding with DEUTZ AG with the intention to explore the potential to extend the long-term cooperation with a joint development of the next generation of medium-duty engines for off-road applications.The memorandum of understanding also aims at analyzing the conditions for establishing a DEUTZ majority-owned joint-venture company in China for the production of medium-duty engines for off-road applications. The production company is intended to provide support for the Volvo Group’s anticipated growth in off-road applications in Asia.