Nissan Diesel is now owned by the Volvo Group. In March 2006, Volvo acquired 40 million shares in Nissan Diesel, corresponding to 13% of the votes and capital. In September of the same year, Volvo increased its ownership to 58.2 million shares corresponding to 19% of votes and capital. At the same time, Volvo purchased all 57.5 million preference shares in the company that through 2014 would be converted in stages and which in 2014 would provide Volvo with 46.5% of the votes and capital in the company, after full dilution.
In 1935 Nihon Diesel Industries, Ltd, in Kawaguchi, Japan on the outskirts of Tokyo was established. The company started production of KD-series 2-cycle diesel engines. In 1940 production of 4.5-ton-payload TT6 series trucks started. In development of 7.5-ton-payload TN93 series trucks, featuring the largest payload capacity in the Japanese market, and the nation's first monocoque-type BR3 series buses with rear-mounted engines. In 1949 development of 7.5-ton-payload TN93 series trucks started. The trucks featured the largest payload capacity in the Japanese market, and the nation's first monocoque-type BR3 series buses with rear-mounted engines.
In 1950 the company name changed to Minsei Diesel Industries, Ltd.; and the company was on the way to becoming a comprehensive transport equipment manufacturer. In 1955 the UD name was born, when Minsei Diesel Industries introduced a range uniflow-scavenging 2-cycle diesel engines. Of course, the UD stood for "Uniflow Diesel", named after the engine they had invented for use in their trucks. The production of various trucks and buses with 81 kW (110 PS) UD3, 110kW (150 PS) UD4 and 169 kW (230 PS) UD6 engines began. In 1957 the development of Japan's first RFA series air-suspension buses and 10-ton-payload 6TW10 series trucks called "Jumbo" in overseas markets began.
In 1960 the company name was changed again, this time to the current Nissan Diesel Motor Co., Ltd. Forward-control trucks and truck tractors were also introduced. In 1963, there was the initial production of compact 4-cycle 40 kW (55PS) SD20 and 44 kW (60PS) SD22 diesel engines. 70 to 80-ton crane-carrier truck series were introduced to the line up. 1969 saw the introduction of 4-cycle 136 kW (185PS) PD6 and 99 kW (135 PS) ND6 diesel engines for heavy-duty vehicles.