Volvo plans to expand in China by launching 10 new models in the following 5 years.
Volvo, which is owned by Chinese auto maker Geely, currently has 6 models in China and it plans to add the next ones after opening two car plants and an engine facility in this country.
“In the year 2017 we will offer 10 additional new models in the Chinese market,” Stefan Jacoby, Volvo chief executive, said at the Beijing auto show.
But since in the following years some Volvo models will be retired, the number of the new models offered will drop under 16. Stefan Jacoby also said that some of the models will come from the brand’s international portfolio, but some of them will be manufactured especially for the Chinese market. With this plan Volvo hopes to make up for lost time in the world’s largest car market.
Currently Volvo has a JV with local producer Chang’an and Ford Motor and manufactures its S80L long wheelbase saloon car in China. In the second half of 2013 Volvo plans to open a facility in Chengdu, where it will produce small and midsize cars, and a second plant will be opened in 2015 in Daqing, north-west China.