Volvo Cars and Chinese parent Geely plan to set in motion an aggressive expansion and export plan that could be the first in a wave of new, Chinese-made vehicles earmarked for the U.S. and Europe.
Their strategy is loosely modeled after the multi-brand approach of German giant Volkswagen AG, and will see the creation of a new entry-level brand, Lynk & Co. to anchor Geely’s global ambitions. Volvo is already importing a small number of stretched S60 sedans to the U.S., and will soon add a longer version of its top-line S90. Cars built by other Geely brands are set to follow.
“We have a strong manufacturing structure in China and we are geared up for further growth,” Hakan Samuelsson, the CEO of Volvo told reporters during a Shanghai news conference. (more…)