Volvo’s Subsidiary Renault Trucks Signs Distribution Agreement With Nissan Motor

In the news: AB Volvo’s subsidiary Renault Trucks has signed a distribution agreement covering the Renault Maxity light duty vehicle with the manufacturer Nissan Motor. It was in February 2006 when an agreement was signed regarding the distribution.

The Renault Maxity is a cab-over-engine light duty vehicle that is produced by Nissan Motor at its plant in Spain. Renault Trucks dealers will begin selling Maxity trucks in Marcg this year. The Maxity was developed and manufactured for Renault Trucks by Nissan Motor and is sold under Renault Trucks’ own identity. Renault Maxity completes Renault Trucks’ existing range of light trucks which includes Renault Master and Renault Macott. These trucks are produced in a range of weight classes from 2.8 to 4.5 tons with three engine alternatives.

The Volvo Group is one of the world’s leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing services. The Volvo Group has at least 82,000 people employed, has production facilities in twenty-five countries and sells their products in more than 185 markets. Annual sales of the Volvo Group reach more than twenty billion euro. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo shares are listed on the stock exchanges in Stockholm and on NASDAQ in the US.

The Volvo Group is also different from the Volvo Cars since it deals more in manufacturing automobiles and auto parts like Volvo antenna. The Volvo Cars has been owned by Ford Motor Company since 1999.

Volvo is Latin for “I roll” or “I turn.” The name Volvo was originally registered in May 1911 as a separate company within SKF AB and as a registered trademark with the intention to be used for a special series of ball bearing, but this idea was only used for a short period of time and SKF decided to use the SKF as trademark instead for all of its bearing products. The company Volvo AB didn’t have any activities until August 10, 1928 when SKF Sales Manager Assar Gabrielsson and Engineer Gustav Larson have set up the car-manufacturing business Volvo AB within the SKF Group.

Volvo AB was finally introduced at the Stockholm stock exchange in 1935 and SKF then decided to sell its hares in the company. It was in April 14, 1927 that the first series of Volvo automobiles called the 'ÖV4' (Öppen vagn (Open wagon)-4 cylinders) were produced. Only 996 cars were produced from 1927-1929. The 'ÖV4' was replaced by model PV651 in April 1929. The first successful car produced by Volvo was the PV444 that was introduced in September 1944.