Swedish truck and bus maker Volvo AB said Wednesday it had finalized an order for 700 city buses from Shanghai, China. The value of the deal was not disclosed.
Volvo said the order is part of a framework agreement that its joint venture company Sunwin Bus signed with The Shanghai Bashi Industrial Co. Ltd. in 2005. Under that deal, Sunwin Bus agreed to deliver 2,000 buses of which 1,300 have already been delivered.