New Volvo chief Stefan Jacoby has vowed to do his best to make the company profitable. He made the pledge during his first appearance at Volvo's headquarters in Gothenburg on Wednesday.
The new President will start the job next week. Jacoby says Volvo must find the right position in the market. Earlier this month, China's largest private car maker, Geely, completed its 1.8-billion U.S. dollar purchase of Ford Motor's Volvo unit. Jacoby was formerly Volkswagen's American president and chief executive.
Chairman of Geely Group and Volvo Car Corporation, Li Shufu, has made it clear that Volvo will be independent from Geely. Jacoby reiterated Li's statement at his debut. He also says he'll try to strengthen Volvo's global presence.