Volvo might acquire a stake in Ashok Leyland

Volvo is the world’s second-biggest truck maker and as per incoming reports, they are currently negotiating with Ashok Leyland for a possible stake in the company.

The company is talking with Land Rover Leyland International Holdings who holds about 51 percent in Ashok Leyland for the Hinduja family.

Volvo said in its response on this rumor: “We never comment on market speculation. We are basically interested in everything except heavy truck makers in North America and Europe, and that is not because we wouldn’t want to buy there, but because we are too big there, and we don’t think we would get approval from competition authorities.”

Volvo had recently purchased a 13 percent stake in Nissan Diesel Motor as they look at expanding their presence in the Chinese market.