Dongfeng Motor Group Company Limited (DFG), Nissan Motor and AB Volvo are now deepening discussions on a possible AB Volvo investment in the heavy、medium duty commercial vehicle business currently included in the Chinese joint venture between DFG and Nissan Motor – Dongfeng Motor Co., Ltd (DFL). "We will now initiate more in-depth discussions about our possible future cooperation," stated Xu Ping, the Board Chairman of DFG and Jorma Halonen, Executive Vice President and Deputy CEO of AB Volvo. Nissan Motor will focus on passenger cars and light commercial vehicles and has divested its holding in Nissan Diesel to AB Volvo. Subsequently, DFG, Nissan Motor and AB Volvo initiated discussions at the end of last year with the Chinese authorities on the future possible cooperation of the parties.DFG will establish more competitive alliances with Nissan and AB Volvo respectively, in order for all parties to achieve best development of their specialized fields. To move forward on this issue, DFG, Nissan Motor, DFL and AB Volvo also have signed a non-binding framework agreement with the intention for AB Volvo to invest in the heavy and medium duty commercial vehicle and future engine business, while Nissan Motor remains committed to the long term cooperation with DFG on passenger vehicle and light commercial business. Any future definitive agreement regarding such a transaction will be subject to approval by Chinese authorities