In a report over the weekend, Drive On speculated that Volvo vehicles made in China might find their way to the U.S. due to the fact that the company is now owned by Chinese automaker Geely. Volvo moved to nix the report, releasing a memo from Geely Chairman Li Shufu:
We can guarantee you that Volvo Cars will remain a Swedish brand, incorporated in Sweden, as a wholly owned subsidiary of Geely Holding Group. The headquarters and the Volvo board will be based in Sweden and will follow Swedish corporate rules and regulations. We also intend to preserve Volvo Cars’ existing manufacturing facilities in Sweden and Belgium, while exploring opportunities to manufacture Volvo vehicles in new production facilities to be built in China for the local Chinese market.
Zhejiang Geely Holding Group
Essentially, Volvo vehicles produced in China will remain in that market. The Volvo offering in China is limited to say the least, with the S40 and long-wheelbase S80 being the extent of it.
– By: Stephen Calogera