Volvo, a Swedish luxury automobile marque, terminated the $126m acquisition of JMC Heavy Duty Vehicle, a Chinese vehicles business. "Volvo Trucks has a long history of successful business activities in China. We have great opportunities on the Chinese market and we will continue the efforts to develop our presence. Our long-term ambition is to grow our business and continue delivering our high-quality trucks to customers in China, together with our dealer partners in the country," Roger Alm, Volvo Trucks President.