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Automobiles

China's Dongfeng Motor to take control of light-truck affiliate

Share deal with Nissan joint venture streamlines commercial vehicle business

Dongfeng Automobile, which specializes in light-duty trucks, sold about 180,000 vehicles last year. (Image from Dongfeng Automobile)

GUANGZHOU -- China's state-owned Dongfeng Motor will spend 6.2 billion yuan ($930 million) to take a majority stake in an affiliate specializing in light-duty trucks, consolidating its operations for commercial vehicles.

The company will buy 55% of outstanding shares in Shanghai-listed Dongfeng Automobile in two stages, according to a statement this week.

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