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Swedish King visits Geely in China

11-12-2010 13:54 BJT

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It's been 100-days since Geely's acquisition of Volvo, and chairman Li Shufu said Volvo of Sweden, will make China its "second home market". Swedish King Carl Gustaf visited the car company.

Li Shufu, chairman of Geely, met visiting Swedish King Carl XVI Gustaf along with Swedish scientists and businessmen in Zhejiang provincial capital Hangzhou, where the company is based.

The two parties discussed Volvo's current operations and its future. Li said Volvo's development will continue under its own management team, not Geely's. His hopes to increase Volvo's market share in China.

Li Shufu, chairman of Geely, met visiting Swedish King
Carl XVI Gustaf along with Swedish scientists and businessmen
in Zhejiang provincial capital Hangzhou, where the company
is based.

Li Shufu, Chairman of Geely Holding Group said "We want to sell more Volvos in China, like what Mercedes-Benz and BMW did with their own models."

Li says the new board of directors and management have decided to work towards making China Volvo's second home market.

Li Shufu, chairman of Geely, met visiting Swedish King Carl XVI Gustaf along
with Swedish scientists and businessmen in Zhejiang provincial capital Hangzhou,
where the company is based.

He adds that Volvo's strategy here is "well underway"... with plans to open three plants in Chengdu, Shanghai and Daqing.

Volvo's strategy includes local development, production and sales. European Volvos will continue to be produced in Europe while Volvos in China will be produced in China.


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