Visit to Chinese-owned Volvo by China's PM Wen Jiabo highlights international trend in auto market
When discussing Volvo people often refer to the automaker as a Swedish company. That may be one way of looking at it. However, Volvo Car Corporation is owned entirely by Geely Holding Group based in Zhejiang China. Just as Honda owns Honda America, which designs and manufacturers cars in the US, Geely owns Volvo who designs and manufactures cars in Sweden.
Americans sometimes forget that there are already Chinese cars being sold here. If anyone had any doubt how seriously the Chinese take this situation, a visit this week to the Volvo Gothenburg plant by The People’s Republic of China’s Prime Minister, Wen Jiabao, should help to clarify things.
Hosted by Volvo Car Corporation’s Chairman, Li Shufu, and President and CEO Stefan Jacoby, the visit was also attended by Swedish Enterprise Minister Anni Lööf, and other representatives of both the Chinese and Swedish governments. During the Prime Minister’s visit he had the chance to witness a live crash test. In addition, the Prime Minister walked the factory floor and spoke with a number of Volvo employees at the final assembly section of the line.