The EU Commission is investigating whether Volvo and several other truck companies, including Swedish company Scania, have been collaborating to fix prices. Last week, the Commission described the accusations, and now Volvo has reacted by reserving cash for possible future fines.
Agence France Presse reports that the Commission has indicated that if the companies are found guilty, they may face fines of up to 10 percent of annual worldwide sales.
Volvo has been involved in a cartel case before. News agency TT reports that the company was convicted last year by South Korea's competition authorities and was fined for SEK 100 million, but that it has appealed.