Volvo opens new China headquarters in Shanghai
Published: 25 Jan 11 11:16 CET | Print version
Online: http://www.thelocal.se/31628/20110125/
Swedish automaker Volvo opened its new China headquarters in Shanghai on Tuesday in its latest bid to expand its market share in the country.
- China to be Volvo's 'second home market' (12 Jan 11)
- Sweden's Volvo Cars increases sales in 2010 (7 Jan 11)
- Volvo mulls Chinese plant within two years (27 Dec 10)
"I am glad to see the China operations team has been set up and has made a huge progress over the last few months, expanding our business presence in China," Jacoby said in a company statement.
The new headquarters on Shanghai's northern outskirts will also include a technology development centre, the company said. Volvo officials declined to say how much the carmaker was investing in the facilities.
Chinese automaker Geely bought Volvo from Ford in August 2010 for $1.5 billion (9.85 billion kronor) and the Chinese carmaker aims to sell 800,000 Volvos in 2020, including 300,000 in China.
In 2010, Volvo sold 373,525 vehicles worldwide, with sales rising by 29 percent in northern Europe and 36 percent in China. Sales dropped 12 percent in the US to 53,952 vehicles, although it remained Volvo's largest market.
China's overall auto sales rose more than 32 percent to 18.06 million units last year following a banner year in 2009, in which the country overtook the US as the world's top market.
"China is the world's largest auto market. To capture the business growth and build Volvo Cars [into] an admired brand in China, [the company] has been strengthening the leadership team in China," senior vice president and Volvo China Chairman Freeman Shen said in the statement.
"Our goal is to build Volvo cars one of the most admired luxury car brands," he added.
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No doubt, I'll keep on buying/driving Saabs in the future....
Just buy whichever you want, save your craps
Maybe the Chinese and others but not me!
Would you buy a Gränsfors Bruks axe manufactured in Taiwan?
I don't think so!
Yes the same was said when the Japs started making cars and people laughed that who would buy those over German or other country made cars!
If you can and you DO use the high end computers/notebooks, cell phones, cameras, almost all of the damn electronic items. Then I guess you may start trying the chinese volvo as well :)
Bewarned, perhaps more than 60 percent of Swedish Volvo is already using chinese made parts :)
Down with Sweden and Democracy! Yay!
you are exactly wrong, as the approval of ECFA "Economic Cooperation Framework Agreement", now it is actually a free trade region between the two sides(mainland china, taiwan). I understand and respect you for thinking as a patriot, however if that is your understand about world economy, i think that is pretty naive. Ok, well, do remember to buy a polically correct car, besides, stopping buy mac, iphone,.... they are all made in China, you will see how you will hurt no one but yourself
There are many factors that distinguish brands from their competitors. Effective brand management generally increases the perceived value of a product line or brand over time. A Volvo manufactured in China for the European market? I don't think so!
It's not a positive association! It takes decades to build and manage a reputation for engineering excellence, reliability and safety. It's brand destruction!
China will be the main market, Geely will build Volvo in China and sell Chinese consumers.