In 2001, Volvo bought Renault Trucks and its American subsidiary, Mack Trucks .

FORBES: Volvo Idling

Folz has maintained the joint ventures formed by his predecessor with Fiat in light trucks and with Renault in engines, gear boxes and industrial vehicles.

FORBES: Businessman of the Year

He fired 30, 000 people, launched the successful Peugeot 205 minicar and signed production deals with Renault (industrial vehicles) and Fiat (light trucks).

FORBES: Magazine Article