Gelly to boost Volvo Cars with Chinese factory
PARIS (AFP) - The Chinese auto group Geely, which is trying to buy Volvo Cars from Ford, intends to boost Volvo sales to a million per year and build a factory in China, the Wall Street Journal reported.
| Related news: • Volvo's image at risk in Chinese hands • Volvo Cars gains market shares • Reinfeldt wants Volvo jobs to stay in Sweden • China's Geely is 'preferred bidder' in Volvo sale |
Volvo Cars, based in Sweden and losing money, produced about 400,000 vehicles last year under the ownership of US auto giant Ford, the report said.
The report, datelined from Beijing, said that if Geely, currently the preferred bidder, succeeded in taking over the company it intended to boost sales to a million vehicles a year.
It would achieve this partly by building a factory in China to make 300,000 vehicles per year and aimed at the local market, the report said.
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Last Updated (Wednesday, 11 November 2009 15:04)
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