Geely: Three Volvo plants
Volvo's new owner Zhejiang Geely Holding Group will build new facilities in Chengdu, Shanghai and Daqing in the northeast to locally produce its vehicles in China, Geely Chairman Li Shufu said last week.
The announcement came during Li's meeting with visiting Swedish King Carl XVI Gustaf, who was accompanied by Swedish scientists and businessmen to Hangzhou, where Geely is headquartered.
Geely acquired the brand from Ford Motor Co in August for $1.3 billion.
From January to October 2010, Geely sold 314,900 vehicles, some 78.8 percent of its full-year sales goal.
