Who owns Dongfeng Commercial Vehicle? The ownership chain, Dongfeng Motor Group's stake and the 2015 deal
Facts checked
Dongfeng Commercial Vehicle is Chinese-controlled with a Swedish minority. It is Dongfeng's heavy-truck arm, and AB Volvo -- the Swedish truck group, not Volvo Cars -- holds a minority of it and lists Dongfeng Truck among its partnership brands. The size of AB Volvo's holding was not verified for this record.
Dongfeng Motor Group holds 55% of Dongfeng Commercial Vehicle Co., Ltd.; AB Volvo holds the other 45%.
The short answer
| Controlled by | Dongfeng Motor Group |
|---|---|
| Stake | 55% |
| Since | January 2015 |
| Kind | brand |
| Origin | CN |
| Name in Chinese | 东风商用车 “DOONG-fung shahng-YOONG-chuh” |
| Top of the chain | State-owned Assets Supervision and Administration Commission of the State Council |
| Is it Chinese? | Yes |
The chain, step by step
State-owned Assets Supervision and Administration Commission of the State Council owns Dongfeng Motor Group at 100% since 2003.
Dongfeng Motor Corporation is a central state-owned enterprise whose shareholding SASAC holds. Dongfeng told the Hong Kong exchange in February 2025 that a planned restructuring might change its controlling shareholder but would not change its ultimate controller, SASAC.
Dongfeng Motor Group owns Dongfeng Commercial Vehicle at 55% since January 2015.
Dongfeng Motor Group holds 55% of Dongfeng Commercial Vehicle Co., Ltd.; AB Volvo holds the other 45%.
| Holder | Holds | Kind | Stake | Since |
|---|---|---|---|---|
| State-owned Assets Supervision and Administration Commission of the State Council | Dongfeng Motor Group | owns | 100% | 2003 |
| Dongfeng Motor Group | Dongfeng Commercial Vehicle | owns | 55% | January 2015 |
Other recorded holdings in Dongfeng Commercial Vehicle
Holdings that are not control, kept out of the chain above so that nothing on this page reads as ownership when it is not. A joint venture is a company two parents built together: its percentage is a share of the venture, not a holding in the partner. The same pair can appear twice with different kinds, and both rows are real.
| Holder | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| AB Volvo | runs a joint venture with | 45% of the joint venture | January 2015 | AB Volvo agreed in January 2013 to buy 45% of Dongfeng's truck business and completed the purchase in January 2015 for RMB 5.5 billion. This is AB Volvo, the Swedish truck and construction-equipment group, not Volvo Cars, which belongs to Geely Holding. |
Dongfeng Commercial Vehicle: questions people ask
- Who owns Dongfeng Trucks?
- Dongfeng Commercial Vehicle Co., Ltd. is 55% owned by Dongfeng Motor Group, the Hong Kong listed arm of the state-owned Dongfeng Motor Corporation, and 45% by AB Volvo of Sweden.
- Does Volvo own Dongfeng?
- No. AB Volvo owns 45% of Dongfeng's truck company, not of Dongfeng itself. AB Volvo is the Swedish truck group; Volvo Cars is a separate company owned by China's Geely Holding.
- Where are Dongfeng trucks built?
- The business is headquartered at Shiyan in Hubei province, the site of the original Second Automobile Works, and also runs knock-down assembly bases overseas.
- Are Dongfeng trucks sold outside China?
- Yes. The company describes an international network of three assembly bases, 824 sales centres and 3,728 after-sales outlets, though it does not publish a country list in the sources cited here.
Related
Sources for Dongfeng Commercial Vehicle
- Wikipedia, Dongfeng Motor Group. Read . Lists Dongfeng Commercial Vehicle as a 55%-held subsidiary
- Dongfeng Commercial Vehicle Co., Ltd., 东风商用车官网 (Dongfeng Commercial Vehicle official site). Read . Headquarters at Shiyan, product families, domestic and international network figures
- AB Volvo, Volvo completes the acquisition of 45% of Dongfeng Commercial Vehicles. Read . AB Volvo newsroom item on completion in January 2015 and the RMB 5.5 billion price. Headline, publisher and figures were read from search results quoting this release; the body was not fetched
- Wikipedia, AB Volvo. Read . Dongfeng Truck listed among AB Volvo's partnership brands.
- Wikipedia, Dongfeng Motor Corporation. Read .
- Dongfeng Motor Group Company Limited (HKEXnews), Announcement on Possible Change in the Controlling Shareholder. Read . Filing of 9 February 2025; the PDF text could not be extracted by the tool used, so the content is taken from reporting of the filing