BEIJING – The Volvo Group reveals that it will launch a new truck range with the UD brand in Asia in 2013 as an essential part of the Group’s aggressive growth strategy for Asia, according to a company press release on June 24.
The new truck offers a wide range of variants with one common platform, developed to meet the different needs of growth markets, said the release.
“Asia is the centerpiece of the group’s strategy. Our objective is to increase revenue of commercial trucks by 50 percent in Asia from 2013 to 2015,” said Olof Persson, President and CEO of the Volvo Group, during his recent visit to Asia. “One step to achieve this target is a deal with Dongfeng that will help the Group significantly strengthen its position in and outside China, and another step is to unveil a new truck with the UD brand for fast-growing markets.”
The new UD truck range to be unveiled is developed for fast-growing markets to seize growth opportunities. It will give a wide range of variants with one common platform to meet the different needs of growth markets. It also will set a brand-new standard that combines the best of three worlds: UD’s heritage of Japanese craftsmanship and customer care, Volvo Group’s global technology, and cost efficiency through local manufacturing and sourcing.
Major Asian markets will be the first target for the new truck range, to be launched later this year. An industrial system for completely built-up UD trucks, including sourcing, is under development in Thailand, India and China. With the introduction of the new truck range, the Volvo Group plans to substantially increase the production capacity of these plants.
Established in 1935, UD has its roots in Nissan Diesel and has been part of the Volvo Group since 2007. The name was changed to UD Trucks in 2010. The existing product lines in Japan will be further developed and optimized for the Japanese market and possibly other mature markets.
Earlier this year, the Volvo Group announced a strategic alliance with the largest Chinese truck manufacturer, Dongfeng, based on a 45 percent stake in a planned joint venture. The completion of the transaction will form another cornerstone of the Group’s aggressive growth plan in Asia, provided relevant authorities approve the joint venture. The approval process is expected to be finalized during 2013.