Volvo Trucks North America Inc has reached an agreement to sell its Xpeditor truck product line to Grand Vehicle Works Holdings LLC. The agreement involves assembly and sale of low cab-over-engine (LCOE) heavy Class 8 trucks and aftermarket parts. Volvo will license the Autocar truck brand name to Autocar LLC, a new subsidiary of Grand Vehicle Works Holdings, which will use it to market the LCOE products.
Volvo is selling its Xpeditor business to comply with an agreement Volvo entered into with the United States Department of Justice to obtain antitrust clearance of AB Volvo's acquisition of Renault VI and Mack Trucks Inc in December 2000. The trucks included in the deal are the Xpeditor models WX and WXLL.
Terms of the agreement also include model-specific designs, tooling, and other assets, including component tooling located at supplier facilities. Upon completion of the sales transaction, a transition period up to 24 months will occur, during which Volvo will continue to assemble LCOEs for Grand Vehicle Works Holdings on a contract basis.
The transaction includes the sale of the Xpeditor name, and the rights to procure and provide aftermarket parts for LCOEs. The new nameplates will be Autocar Xpeditor WX and Autocar Xpeditor WXLL. Neither the Volvo trademark nor any assembly facilities are included in the transaction.