Volvo Buses and Chinese SAIC form joint company for new energy driveline systems
Volvo Bus Corporation and SAIC Motors, a company in the Shanghai Automotive Industry Corporation (SAIC), have agreed to form Shanghai Green Bus Drive System Co, a joint venture company focused on new energy driveline systems for buses such as hybrids and electric buses. The new company will be owned by SAIC with 60% and by Volvo with 40%.
SAIC Motors is China’s leading passenger and vehicle manufacturer. Volvo Buses is one of the world’s largest manufacturer of buses and bus chassis. The new company will be based in Shanghai, China, and represents the second joint venture company between the two parties.
Volvo Buses was advised by Mannheimer Swartling in the transaction. The firm’s team in China was led by Peter Idsäter, primarily assisted by Queenie Chen and Chris Yu.