Report: Also a new Volvo truck tie-up

BEIJING - Dongfeng Motor Corp has agreed to form a joint venture with Swedish truck maker Volvo, a Chinese business newspaper reported recently.

The Economic Observer report cited anonymous insiders saying the joint venture will be formed next year with Dongfeng holding a 55 percent share and the remainder owned by Volvo.

Volvo's truck unit is independent from its car busines, which was sold by Ford to Zhejiang Geely Holding Group last year.