Geely plans 1 million Volvo units a year, new plant in China
Ford is still negotiating the sale of Volvo brand and one of the potential winning bidders is a Chinese Geely. In 2008 Volvo sold 380,000 cars around the world. If Geely gets the Volvo brand they plan to produce 1 million cars a year within five years.
That means they have to increase the current production about 2.5 times. How?
It looks like Geely plans to add 2-3 bigger and more luxurious cars to the current Vovlo line-up. If that’s true, then the S80 won’t be Volvo’s “halo” car anymore.
Also Geely plans to open up a factory in China, that could produce around 300,000 cars per year. Where will these cars go? Of course Geely sees a huge potential in the growing home market.
Geely is currently preferred bidder for Volvo, but there are still lots of issues that need to be resolved, like intellectual property concerns.
Sales value for the Volvo brand is estimated at around $2 billion.
via: automotive news
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