Li Shufu, chairman of Zhejiang Geely Holding Group, has confirmed that Volvo Cars will set up three plants in China, located in Chengdu, Shanghai and Daqing.
People's Daily, citing Li, said in the past three months, the new board of directors had held two meetings, and the board and management decided to make China the company's second home market. The company has also announced Volvo Cars' management team in China.
"Europe's Volvos are to be produced in Europe. Volvos in the Chinese market are to be produced in China," the report quotes Li as saying. According to Li, Volvo Cars' future strategy is local development, local production and local sales.
Geely and Ford originally signed the acquisition deal on 28 March, followed by the completion of the deal in August this year. The transaction was valued at US$1.5bn.
Published on Friday, November 12, 2010
www.automotiveworld.com/news/...ee-local-plants-for-volvo-cars der gewinner hat viele freunde, der verlierer nur gute!