It’s becoming increasingly difficult to call Volvo a Swedish car company. These days, most of its top management – headed by CEO Stefan Jacoby, a former Volkswagen executive – is German and it is now owned by China’s big Zhejiang Geely Holding Group.
Further confusing things, Volkswagen may soon have as much or more production capacity in China as it does in Europe, Jacoby confided in TheDetroitBureau.com during a conversation at the Beijing Motor Show.
Work is already underway to erect Volvo’s first Chinese assembly plant and, he confirmed, everything is in place to add a second Chinese factory. But now, he revealed, “We are considerating a powertrain plant in the greater Beijing region” that would likely meet most or all the engine and transmission needs for both those assembly lines.