Volvo to add 10,000 staff: CEO
Published: 28 Nov 11 08:22 CET | Print version
Online: http://www.thelocal.se/37602/20111128/
Swedish automaker Volvo, owned by China's Zhejiang Geely, plans to hire a further 10,000 new staff in the coming years, its chief executive said in an interview to be published Monday.
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"We will increase our staff to between 33,000 and 35,000 by 2020," Stefan Jacoby told Automotive News Europe magazine.
The company currently employs around 24,000 people worldwide -- around 16,000 in Sweden, 5,000 in Belgium and 1,000 in China as well as 2,000 in other countries.
Jacoby said Volvo aimed to sell 800,000 vehicles per year by 2020, one-quarter of them in China, now the world's biggest auto market.
In 2010, Volvo sold about 374,000 vehicles worldwide, with sales rising by 29 percent in northern Europe and 36 percent in China.
Geely bought Volvo from Ford last year.
While Sweden's other major car brand, Saab, continues its battle to escape bankruptcy, Volvo's announcement is a clear statement of intent.
The Local reported in October that Geely had approached Saab's reconstructor, lawyer Guy Lofalk to express an interest.
According to reports in the Dagens Nyheter daily, Geely has been watching Saab's struggles with interest, but has stayed cautious about entering the fray.
The firm refused however to confirm the reports and with Saab's bankruptcy protection set to be lifted in December the speculation has cooled off.
What do you think? Leave your comment below.
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If the chinese didn't bail it out it would be bust by now and nothing but an historic name.
China rules the world now, like it or not, it could bankrupt the US tomorrow as it's China that is buying the US Government bonds and those of other struggling nations and is likely to be buying many EU bonds too. It has the funds, the west is skint.
There is nothing special or distinctive about the cars Volvo is now making, so it is no surprise that customers are looking elsewhere. Unfortunately, the management and product planners have let the company down. Maybe Volvo has a future as an Asian brand, but it will ultimately fail as a mainstream player in Europe and North America unless a new direction can be found.