2:31 pm, February 28, 2011
VOLVO Car Corporation has announced its strategy for growth in China and the Chinese market.
The Swedish brand has decided, pending approval of Chinese authorities, to invest in a new plant in the city of Chengdu and continue investigations for a plant also in Daqing.
‘We regard the Chinese market as the second home market for Volvo Car Corporation and a very important part of the plan to build a successful future for the company,’ says Stefan Jacoby, president and CEO of Volvo Car Corporation.
During autumn 2010 and early 2011, Jacoby has been working on ‘a revised product plan’ for the next ten years in order to deliver on the brand objectives, which in turn also have been undergoing major analysis and development. Jacoby emphasises that Volvo will continue to be a ‘contemporary luxury brand, with products built around people.’
A new Volvo Car China headquarters in Shanghai, including a technology centre have been established, giving a strong sign that Volvo is serious about penetrating the Chinese market.
‘We are increasing our business presence in China from a national sales company to an organisation with all functions necessary to manage our operation in China,’ said Jacoby. ‘Our aim is to reach a sales volume of about 200,000 cars in the Chinese market by 2015.’
Volvo Car Corporation SVP & China pperations chairman Freeman Shen says: ‘At our plants in China we will ensure that Volvo’s global manufacturing and quality system can be thoroughly implemented.
‘The Volvo Car China technology centre in Shanghai will develop into a complete product development organisation on an international level. It will have the competence and capacity to work together with the HQ in Sweden, participating in Volvo Car Corporation’s work process for developing entirely new models,’ said Shen.
