Despite China making it harder for money to be moved outside, Zhejiang Geely Holding Group (popularly termed as Geely) has acquired an 8.2 per cent stake in AB Volvo claim industry sources. The 8.2 per cent stake is said to be bought from the activist investment firm Cevian Capital at a value of USD 3.2 billion approximately. After buying Volvo Cars in 2010, Geely has become the Swedish truck maker’s largest shareholder. Industry sources are of the belief that Geely bought 8.2 per cent stake in Volvo AB with the view of a strong rise in the sale of gas trucks. China is claimed to be taking efforts to operators to buy gas trucks rather than the diesel ones. It is confident that emissions will come down drastically with the sale of gas trucks picking up.

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