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Volvo and Geely in two minds over China plans

Volvo and Geely in two minds over China plans

Published: 13 Nov 2010 11:16 GMT+01:00
Updated: 13 Nov 2010 11:16 GMT+01:00

Geely chairperson Li Shufu wants to see large, luxury vehicles which is not part of Volvo's plans for China.

Li aired his opinions in the Chinese state-owned Securities Times (ST) newspaper, the first time the Chinese owners have publicly expressed an opinion distinct from their Swedish subsidiary.

According to Li, Volvo Cars maintain that large cars require more fuel and more material to manufacture, and argue that the global car industry is developing towards more fuel-efficient and eco-friendly models.

Li Shufu appeared unruffled by the differences of opinion, arguing that they will be solved given time and would lead to an improvement in coordination between the firms, while he is reported to have expressed criticism in his interview.

Any connection between Li's criticism and the resignation of Magnus Jonsson, head of Volvo's product development, has been rejected by Jonsson in a comment to the Göteborgs-Posten (GP) daily.

Volvo Cars has not issued a response to Li Shufu's comments.

"We have not had it confirmed from Li Shufu directly. We have sent an email to Geely, but have not received an answer," said Volvo Cars' Olle Axelson to GP.

TT/The Local/pvs (news@thelocal.se)

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Your comments about this article

14:38 November 13, 2010 by Gletta
So, the chairman states that the company is going in a different direction to what others think and you 'send him an email´.
14:44 November 13, 2010 by DavidtheNorseman
One would think that Geely knows its own market best...now that they own Volvo cars, well, he who pays the piper calls the tune.
14:59 November 13, 2010 by janswed
Who could have seen this coming?LOL
01:58 November 14, 2010 by 2394040
All great nations become decadent over time (one of the lessons of history) and China, because of its sheer size, will become decadent much faster than the great nations of the past. China has risen from financial obscurity to financial domination in probably the least amount of time in the history of the world. It's rise has been phenomenal. And it's fall (which will happen; China will not be an exception to the lessons of history) will also be phenomenal.
19:39 November 15, 2010 by Essjay
Totally agree
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