Deutz AG has signed a non-binding memorandum of understanding with AB Volvo with the intention to explore the potential to extend their long-term cooperation with a joint development of the next generation of medium-duty engines for non-road applications.
The memorandum of understanding also aims at analyzing the conditions for establishing a Deutz majority-owned joint venture company in China for production of medium-duty engines for non-road applications. The production company is intended to provide support for the Volvo Group's anticipated growth in non-road applications in Asia.
Any implementation requires both companies to agree on the final terms and conditions in a binding contract.
Companies in this article
Related
