Posts Tagged ‘volvo’
Volvo will transfer XC90 platform to Geely
Published on May 18, 2012 by Joey Wang
Chinese media are reporting that Volvo will transfer the XC90 platform to Geely. Volvo is currently developing the new XC90 which will debut in 2014. Geely will use the platform to build a new ‘premium’ brand for the Chinese market.
Volvo working on stretched S60 for Chinese car market
Published on May 16, 2012 by Joey Wang
Volvo is working on a stretched S60 that will debut at the Chinese market sometime next year. The S60L will compete with cars such as the Audi A4L and the BMW 3Li. These two cars are made in china, the S60L however will not, which will make it more expensive than its competition. The Volvo S80L, a China-only stretched S80, is made locally at the Chang’an-Volvo joint venture. Read more »
Volvo plans to sell 200.000 cars a year in China
Published on May 3, 2012 by Joey Wang
Swedish car maker Volvo, owned by Chinese group Geely, said it was on track to meet its long-term goal of boosting sales more than four-fold in China after reporting a fall in 2011 earnings due to costs related to its expansion.
Volvo was bought by Zhejiang Geely Holding Group Co Ltd from Ford Motor Co in 2010. It plans to boost output from over 400,000 cars to more than 800,000 by 2020.
Volvo brings R-Design to China
Published on May 2, 2012 by Joey Wang
Volvo brings the R-Design line to China. The start with the V60 R-Design that will be offered in a limited edition of only 333 examples, buyer can choose only four special colors: black, bright-blue, passion-red and snow-white. The V60 is imported and thus expensive, price for all this pretty is 499.900 yuan.
Volvo to invest $11 billion in new cars and factories
Published on April 9, 2012 by Joey Wang
Swedish carmaker Volvo, owned by China’s Zhejiang Geely Holding Group Co Ltd, plans to spend $11 billion on developing new products and boosting its manufacturing footprint in the next few years, a company spokesman said on Thursday.
Earlier in the day, German magazine Wirtschaftswoche said Geely would invest the money, but spokesman Per-Ake Froberg said that funding would come from Volvo itself and include financing from cash flow and borrowing. “It is not Geely investing $11 billion,” he said.
Volvo recalls S60, XC60 cars in China
Published on March 25, 2012 by Joey Wang
The Shanghai sales branch of Volvo announced it will recall more than 12,000 imported S60 and XC60 cars in China starting Friday, the country’s consumer quality watchdog said. Read more »
Geely hopes to get Approval for Volvo JV in H1
Published on March 23, 2012 by Joey Wang
Zhejiang Geely Holding Group Co Ltd, parent of Geely Automobile Holdings Ltd, hopes to receive government approval for its joint venture with Volvo Car in the first half of 2012 so production can start next year, Vice President Daniel Li said.
“We believe the joint venture will be approved,” Li told reporters on Thursday after Geely Automobile’s results briefing. Li, who is also a board member of Volvo Car, said he hoped sales of China-made Volvo cars could be launched in 2013.
Volvo scores global endorsement deal with Jeremy Lin
Published on March 20, 2012 by Joey Wang
Volvo Cars has signed New York Knicks point guard Jeremy Lin to a global endorsement deal, the automaker announced today in New York City. Volvo is owned by China’s Zhejiang Geely Holding Group Corporation.
According to a statement from Volvo, Lin “is expected to help in the marketing efforts of Volvo in several international markets and help establish the brand with younger and performance-oriented customers.” Read more »
NBA star Jeremy Lin in talks to endorse Volvo in China
Published on March 14, 2012 by Tycho de Feyter
Jeremy Lin, the New York Knicks basketball player who surged in popularity this year, is in talks on an endorsement deal with Volvo Cars, three people familiar with the matter said.
The symbolism of such a deal would be rich. Volvo is now owned by China’s Zhejiang Geely Holding Group Corporation. The company is trying to boost Volvo sales in China as part of a strategy to double the brand’s global sales to 800,000 vehicles by 2020. Geely plans to invest up to $11 billion in the effort.
Geely signs tech transfer deal with Volvo
Published on March 10, 2012 by Joey Wang
Geely Automobile Holdings said its parent and Volvo Car had signed a technology transfer deal allowing the Chinese maker of low-cost cars to enrich its product portfolio and make it more competitive in its home market. “It will support us in realising the aspirations to make China our second home market,” Stefan Jacoby, president and chief executive of Volvo, said on Friday.
Under the agreement, Zhejiang Geely will leverage its full access to technology authorized by the Swedish carmaker to develop a new premium brand for the Chinese market, said Yang Xueliang, a spokesperson for Geely’s parent company.
