Tuesday, July 03, 2012
China-owned Volvo will market V60 hybrid in Europe, not USA
by Larry Geller
Volvo Car Corp. has a Swedish name but is owned by the Chinese manufacturer Zhejiang Geely Holding Group Co.. The Chinese company plans to start car production in China from a factory in Chengdu in the second half of 2013. Two car factories and an engine plant are contemplated.
The Chinese plants could eventually produce the V60 hybrid.
And it seems they are not interested in selling the V60 in the USA, currently the largest market for hybrid vehicles.
The car is reported to have
an incredible fuel efficiency rating of 2l/100km (117 US mpg)
Disappeared News has predicted that should the US market decline—after all, consumers without an income or working part-time or poorly-paid jobs can’t support a growing economy—China will not only move into more areas of manufacturing that have been traditional US mainstays but will seek markets at home and abroad outside of the US. Volvo is profitable in Europe but currently showing a loss in the US.
Volvo is also reportedly looking for a partner to produce its smaller cars in the USA. That could be Fiat.