Volvo and Pininfarina to end their Swedish joint venture for the C70

Volvo Car Corp. will take full ownership of a Swedish car assembly joint venture that it started eight years ago with Italy's Pininfarina S.p.A.

Volvo said it will assume responsibility for Pininfarina Sverige AB and its operations in Uddevalla, Sweden, in May 2013.

The factory will continue to build its sole model, the Volvo C70 convertible. Volvo sold 4,703 units of the C70 last year, down 1.7 percent from 2009, according to researchers JATO Dynamics.

The joint venture between Pininfarina and Volvo was created in 2003.

By Paul McVeigh- Automotive News Europe