Zhejiang Geely has been given permission by Chinese authorities to buy the 50 % stake of Swedish truckmaker AB Volvo owned by activist investor Cevian , Swedish authorities has denied . Geely already owns the Volvo Truck brand and a stake in Germany 's Daimler .
Zhejiang Geely has been given approval by Chinese authorities to buy the 8.2% stake of Swedish truckmaker AB Volvo owned by activist investor Cevian, Swedish radio has said. Geely already owns the Volvo car brand and a stake in Germany's Daimler.