Jacoby: Volvo will look to China, partnerships to grow

Stefan Jacoby, President and Chief Executive of Volvo Cars

During his first press conference as CEO of Volvo, Stefan Jacoby, said that the Swedish brand will focus on building emotional vehicles in the future and may look to partner-up with rivals to gain economies of scale. Jacoby, former CEO of Volkswagen North America, was recently appointed CEO of Volvo after Zhejiang Geely Holding Group Co. took complete control of the brand from FoMoCo for a $1.3 billion in cash sale.

“There are opportunities to cooperate with suppliers, with maybe other competitors as well, but also, of course, to find synergies with our sister company Geely in the future,” Jacoby said in his first news conference for Volvo.

The new CEO said that Volvo will be looking for opportunities in the Chinese market, which overtook the United States as the world’s biggest car market last year.

“We will be upscale but will not just copy rivals such as BMW,” he said. “Volvo stands for safety, solidity and reliability but the emotional positioning of the brand is not sharp enough. Volvo needs to find a Swedish-based, unique positioning.”

– By: Stephen Calogera

Source: Automotive News (Subscription Required)