Bloomberg said that Volvo Car Corp, the Swedish carmaker owned by China’s Zhejiang Geely Holding Group Co., said it plans to more than double its number of models to compete with Volkswagen AG’s Audi and BMW AG in the world’s largest automobile market.

“We are going to make huge investments into development and facility construction in China,” Zhejiang Geely Chairman Li Shufu told the news bureau in an interview. “I believe Volvo will meet its growth target in the world as well as in China.”

Volvo currently sells 6 models in China. It is planning to introduce 10 new ones in the country within six years, including “bigger and more luxury high end” vehicles, as well as medium- to small-sized cars.

Volvo is ranked fifth in luxury-car sales in China.