The Chinese carmaker could begin exporting as early as next year, according to an industry source
A senior executive at Zhejiang Geely Holding Group recently told Reuters that the company would export the Volvo S60 and long-wheel-based S60L to the US and the XC90 SUV to Russia next year.
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The XC90 Image: Volvo |
While Volvo will only export 10,000 or so S60Ls and several thousand XC90s each year, the move is a significant event as it shows Chinese firms' capabilites of turning round struggling foreign acquisitions.
The reports were loosely corroborated by global head of media relations David Ibison and Volvo CEO Hakan Samuelsson, who claimed Volvos could be exported to the US "fairly quickly" at a conference in January.
China's auto industry executives will be watching Geely chairman Li Shufu's progress closely. Many questioned whether Li, dubbed the Henry Ford of China, could turn around the bankrupt Swedish automaker, although there was optimism in some quarters after the giant holding company bought Volvo in early 2010.
Other Chinese carmakers have not fared as well. In 2008, SAIC Motor Corp was forced to sell half of South Korea's Ssangyong Motor Co as the financial crisis dragged profits.
Volvo also believes China sales will jump by as much as 50% this year to more than 90,000 vehicles after rising by 46% in 2013 to 61,146 vehicles.