Volvo has said that it aims to become one of the leading luxury brands in the Chinese market by 2015. In order to help effectuate that, the company has said that it will establish a technology center, along with its headquarters, in Shanghai. The goal is to bring Chinese sales to 200,000 units by 2015, up from 30,000 units last year.
Volvo expects China to become its biggest market, and its ‘second home market’ after Sweden. Last year, Swedish sales roughly doubled that of those in China. In addition to building its HQ in Shanghai, Volvo also plans to setup local Chinese production in order to reach the 2015 goal.
– By: Stephen Calogera
Source: Automotive News