Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Geely, Volvo target world market with China-built luxury car

by Associated Press

SHANGHAI Nov 03, 2016 - 12:00 am GMT+3
Li Shufu, (L) founder and chairman of Zhejiang Geely Holding Group and Hakan Samuelsson, President of Volvo attend Volvou2019s S90 news conference in Shanghai.
Li Shufu, (L) founder and chairman of Zhejiang Geely Holding Group and Hakan Samuelsson, President of Volvo attend Volvou2019s S90 news conference in Shanghai.
by Associated Press Nov 03, 2016 12:00 am

Under the new strategy, Volvo and its Chinese owner are revving up their profile as they focus on selling premium cars. Also, vehicles based on a new shared platform will be made in a new plant

Volvo Cars and its Chinese owner are gearing up to export more premium cars to world markets. Outlining its latest strategy Wednesday, Volvo unveiled upgraded versions of its upscale S90 sedan range, which will be manufactured entirely in China for export, signaling growing confidence in its Chinese production base. Design touches on some of the S90 models also highlighted Volvo's focus on the vital Chinese auto market. Most notably, a "super luxury" version replaces the front passenger seat with a touchscreen console, with space to store shoes underneath, a feature clearly aimed at China's chauffeur-driven executives. Volvo and its parent company Geely also announced plans for a factory to make compact cars based on a new shared platform, including vehicles for Geely's just-launched "connected car" brand, Lynk & Co.

It's part of Volvo Cars' efforts to compete with other luxury car brands both globally and within China, the world's No. 1 market, after it was bought by Zhejiang Geely Holdings in 2010.

"We have a strong manufacturing structure in China and we are geared up for further growth on this key market," Volvo CEO Hakan Samuelsson told reporters.

The new plant will produce Volvo's new 40 series based on its Compact Modular Architecture platform, which will also be used for Lynk & Co vehicles, a brand Geely launched last month. The factory, currently under construction in Luqiao, 350 kilometers (220 miles) south of Shanghai, is owned by Geely but will be operated by Volvo.

The platform is one of just two underpinning Volvo's entire lineup. They give the company flexibility to build a wide range of vehicle sizes and body styles, helping it compete with bigger rivals. Volvo added a long wheelbase version of its top-of-the-line S90 sedan as well as the "super luxury" Excellence edition aimed at China's chauffeured business class, who typically desire a more spacious backseat. The S90 Excellence's "lounge console" with its touchscreen monitor on retractable arms takes all of the front passenger side. The car comes with a panoramic sunroof and handmade Swedish crystal glasses. Samuelsson said the two new versions "will be the most luxurious cars ever produced in China" when Volvo's two-year-old plant in Daqing, Heilongjiang province starts making the S90 range in the coming months.

"The fact that these cars will be exclusively built in China for the global market demonstrates the quality of our Chinese factories," he said.

Another Volvo factory in Chengdu in central Sichuan province produces midsize S60 cars, which the company started exporting last year to the United States. With only a few thousand vehicles dispatched annually from China, "the number of Volvos going to the U.S. is still small. But the important takeaway is that shipping to the U.S. means Volvo China operations have achieved world-class quality," said Michael Dunne, president of Hong Kong-based investment advisory firm Dunne Automotive. Geely Chairman Li Shufu's decision to give Volvo management ample independence has paid off, he added. Last year Volvo operating profits tripled and vehicle sales surpassed half a million units for the first time.

"Now German luxury makers are taking a closer look at their coming challenger," Dunne said.

Volvo's factories in Gothenburg, Sweden and Ghent, Belgium will continue to make sedans, hatchbacks and sport-utility vehicles in all three model ranges. It's also building a plant in South Carolina to make midsized vehicles.
  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    In photos: Armenians set homes on fire, destroy infrastructure as they leave occupied lands
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021