China’s Zhejiang Geely Holding Group Co. is considering part repurposing an almost completed Geely plant in southwestern China to make Volvo cars – part of a turnaround strategy for the Swedish automaker that its new owner hopes will kick start sales in the world’s biggest auto market.
The plan also includes building another car-assembly plant, possibly in Shanghai, and an engine factory elsewhere in China within the next few years, according to a source. Shanghai is also likely to be home to Volvo’s new China headquarters as well as a research and development centre, the source said.
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(Source: The Wall Street Journal Online)