Autoblog

Detroit Electric, Geely announce strategic partnership for electric vehicles

Sebastian Blanco — Thu, 25 Apr 2013 15:45:00 EST

Filed under: Shanghai Motor Show, Electric, MISC

The revived Detroit Electric company will be partnering with China's Geely, but the mission is not to cooperate on bringing the all-electric Tesla Roadster-like SP:01 to market. Instead, Detroit Electric and Geely will co-develop more normal passenger vehicles from Geely's Emgrand brand, starting with the EC7 pictured above. The two companies will also work on "related electric drive systems." The announcement was made at the Shanghai Motor Show today.

Geely and Detroit Electric have been working quietly for three years on feasibility studies and a joint development program that finally selected the EC7. All of the vehicles that emerge from the strategic partnership will be sold in China, and the first model, which will be called the EC7-EV and come in two range flavors (100 and 160 miles) is due in 2014. The EC7-EV will apparently have a top speed of over 124 miles per hour. The companies are bold enough to put out sales predictions already, saying they expect 3,000 to be sold in the first year and 30,000 in the first three years.

Detroit Electric is in the midst of an aggressive launch phase, with plans to already start building the SP:01 in Michigan in August. To refresh your memory, the SP:01 scoots on up to 62 miles per hour in just 3.7 seconds on the way up to a top speed of 155 mph. The powertrain includes a 37-kWh lithium-polymer battery and an air-cooled, asynchronous AC electric motor that puts out 201 horsepower and 166 pound-feet of torque. The range (as calculated on the New European Driving Cycle) is 180 miles - we figure that means about 150 miles using US tests.

Continue reading Detroit Electric, Geely announce strategic partnership for electric vehicles

Detroit Electric, Geely announce strategic partnership for electric vehicles originally appeared on Autoblog on Thu, 25 Apr 2013 15:45:00 EST. Please see our terms for use of feeds.

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China still 10 years away from globally competitive car company

Zach Bowman — Mon, 25 Feb 2013 16:29:00 EST

Filed under: China, Chery, Geely

It may be a spell before Chinese automakers are capable of turning out a globally competitive vehicle. That's the findings of a sprawling 200 page report by Bernstein Research. The group went through the trouble of purchasing two Chinese-made cars, importing them to Europe and disassembling them down to every last nut and bolt. The study also included in-depth interviews with CEOs at each of the major manufacturers, including Great Wall, Chery, Brilliance and SAIC among others. Researchers found that by and large, global partners aren't holding up their end of joint venture deals, with the vast majority of foreign automakers seemingly not taking the Chinese market seriously.

The one exception to that rule, according to Bernstein, is General Motors and SAIC. GM has pumped a staggering amount of cash into China, and as a result, SAIC seems leagues ahead of its peers on the design and engineering front. Speaking of engineering, the study found most Chinese cars to simply be reverse-engineered examples of foreign models, with the Toyota Corolla being the most popular. That's due in part to the fact that Chinese automakers spend $100 million a year on research and development on average. For comparison's sake, a company like Volkswagen or Toyota spends closer to $1 billion. The Truth About Cars has a closer look at the report's contents. You can find that writeup here.

China still 10 years away from globally competitive car company originally appeared on Autoblog on Mon, 25 Feb 2013 16:29:00 EST. Please see our terms for use of feeds.

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London Black Taxi manufacturer sold to China's Geely

Jonathon Ramsey — Mon, 04 Feb 2013 08:45:00 EST

Filed under: Earnings/Financials, UK, Specialty, Geely

Geely, the Chinese company that also owns Volvo, now owns Manganese Bronze Holdings (MBH), makers of London's Black Cab. MBH went into administration late last year, and some had looked to Geely to rescue the company in which it had a 19.7-percent equity stake. Although it's taken three months to strike a deal, and more than half of the workforce was let go, Geely finally agreed to buy MBH for 11.4 million pounds ($17.9M US).

The purchase confers to Geely "the business and principal assets" of MBH, including the intellectual property and trademarks, equipment, properties, unsold stock, "goodwill" and complete ownership of the China-based joint venture in which Geely was producing the Englong SC7-RV. Happily for fans of the iconic product, the deal keeps production in Coventry and Geely has stated its desire to reestablish and grow the firm.

Reasserting authority in the UK taxi market and getting back in the good books of owners will take money and commitment. Manufacturers like Nissan and Mercedes-Benz have been poaching former owners of LTI products, and what current owners have seen as a lack of service and support has turned apathy into ire. Geely will need to put the time and money into new, competitive and reliable models to make a success of its latest purchase. If those new models can retain the Black Cab's aesthetic place in the London streetscape, all the better for it.

London Black Taxi manufacturer sold to China's Geely originally appeared on Autoblog on Mon, 04 Feb 2013 08:45:00 EST. Please see our terms for use of feeds.

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Volvo agrees to transfer tech to new parent Geely

Jeffrey N. Ross — Tue, 11 Dec 2012 18:31:00 EST

Filed under: China, Technology, Volvo, Geely

Following the acquisition of Volvo by China's Zhejiang Geely Holding Group in 2010, we definitely saw this news coming. The two companies have signed an agreement that will give Chinese automaker Geely access to key technologies developed by Volvo, and in turn, the deal could help the Swedish automaker lower its production costs.

As a part of the "technological cooperation agreements" signed by both companies, Automotive News China reports that Geely will be able to tap Volvo for three much-needed technologies, including the use of a midsize platform, Volvo's proven safety innovations and interior air quality systems. The latter two technologies are important to improve the crashworthiness of Geely's cars, along with helping isolate vehicle occupants from China's often severe air pollution. The report says that Volvo tech will likely be used on a premium car brand that Geely is expected to create.

Volvo, on the other hand, is to benefit from the "local market exploration experience and cost control experience" of Zhejiang Geely Holding Group, which is technical way of saying that Volvo will be able reduce its costs by tapping into Geely's established supply chain.

Volvo agrees to transfer tech to new parent Geely originally appeared on Autoblog on Tue, 11 Dec 2012 18:31:00 EST. Please see our terms for use of feeds.

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London Black Cab maker struggling for survival

Jonathon Ramsey — Wed, 24 Oct 2012 15:33:00 EST

Filed under: Work, Earnings/Financials, UK, Specialty

The roots of London's Black Cab dig all the way back to the Austin FX3 of 1948, the current overall shape recognized by any modern visitor to London showing up in 1958 on the Austin FX4. Manganese Bronze Holdings Plc has been the company behind the Black Cab since 1984, but failing to invest in the product and increased competition have sent the icon into administration. Manganese has posted losses since 2008, sold a share of itself to Geely (yes, that Geely) in 2010, and had to post a 3.9 million pounds loss this summer due to an accounting error blamed on a new IT system. Unable to secure additional funding from Geely or any other investor, the company's been forced to enter the UK version of bankruptcy.

Manganese is considered the last Coventry-based auto manufacturer. However, manufacturing was moved to China after the Geely deal and the parts are merely assembled in Coventry. That hasn't provided the expected savings, and when the new TX4 cab needed to be recalled earlier this year over a steering fault, the money crunch got tighter. On top of that, Manganese owners have been complaining about service for years, Mercedes has been swiping customers with a Black Cab Vito, Nissan is poised to swipe more with its NV200. Point being, it has a great deal of work to do in order to be a going concern again.

A statement released by the company says, "The Board remains hopeful that the fundamental strengths of the company, the TX4 model and its global reputation will provide the platform for a successful business in the future."

London Black Cab maker struggling for survival originally appeared on Autoblog on Wed, 24 Oct 2012 15:33:00 EST. Please see our terms for use of feeds.

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Boardroom battles may be hurting Jacoby's bid to turn Volvo around

Seyth Miersma — Fri, 05 Oct 2012 10:00:00 EST

Filed under: Europe, Volvo, Rumormill, Geely, Luxury

Escalating tensions between Volvo CEO Stefan Jacoby and Volvo Vice Chairman Hans-Olov Olsson may be working against the Swedish brand's stated goals of regaining lost European market share, as well as remaining relevant as a luxury brand on the world stage.

Reports indicate that Jacoby and Olsson have clashed on statements made about Volvo group strategies, as well as butted heads on a "key executive appointment" in recent weeks.

Some of the conflict is by design, oddly enough, as new Chinese owner Geely intentionally brought Olsson back into the fold - the Swede is a former CEO of Volvo himself and has served some four decades with the company, all told - to keep Jacoby sharp. However, the Geely-devised system of "checks and balances" may be off the rails at this point, as the battle has become increasingly intense and is said to have held up some day-to-day decisions.

To make matters worse, Jacoby has been out of the picture for a bit after suffering a small stroke last month and taking medical leave.

Despite these insider reports of troubled times, Geely chairman Li Shufu (who also serves as chairman of Volvo) seems to believe that the arrangement is working as planned. It was Li that tasked Olsson with with closely watching Volvo management, as it tries desperately to turn around its lately flagging fortunes.

On the record, the company has stated that all is well in the house of Volvo. Spokesman Per-Åke Fröberg responded to the agllegations flatly, "There is no conflict between Stefan Jacoby and Hans-Olov Olsson."

Boardroom battles may be hurting Jacoby's bid to turn Volvo around originally appeared on Autoblog on Fri, 05 Oct 2012 10:00:00 EST. Please see our terms for use of feeds.

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Volvo CEO Jacoby suffers mild stroke, takes leave

Jonathon Ramsey — Mon, 24 Sep 2012 09:14:00 EST

Filed under: Etc., Volvo, Geely

Reuters reports that Stefan Jacoby, CEO of Volvo, has suffered a mild stroke. It happened last week, and although Jacoby says he has limited movement in the extremities on his right side, he says he's already begun improving.

Jacoby, 54, is "under medical supervision" and will be on sick leave for a month. It's a busy time for the company captain as a he works out how to convey the full value of Volvo offerings and is apportioning Geely's $11 billion investment, not to mention supervising the launch of the V40 Cross Country and a considering a Mini rival. Company CFO Jan Gurander has taken over in Jacoby's absence. We wish Jacoby a speedy and complete recovery.

Volvo CEO Jacoby suffers mild stroke, takes leave originally appeared on Autoblog on Mon, 24 Sep 2012 09:14:00 EST. Please see our terms for use of feeds.

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Volvo XC90 to become Geely

Jeff Sabatini — Thu, 17 May 2012 18:01:00 EST

Filed under: SUV, China, Plants/Manufacturing, Volvo, Luxury

Volvo recently unveiled yet another model year of the impossibly old XC90 - promised to be the final one before a complete redesign. But the overripe vintage of the first SUV to fall from Volvo's vine isn't stopping corporate parent Geely from absconding with the platform to launch a new high-end brand for China.

According to China Car Times, Volvo's new XC90 will be launching in 2014, and after that the original will soldier on in China, at least in some form. The report does not make clear whether the first-generation XC90 will merely be re-badged, or if the platform will be used for a new Geely design.

Geely launched its first SUV, the GX7, at this year's Beijing Auto Show, according to the report.

Volvo XC90 to become Geely originally appeared on Autoblog on Thu, 17 May 2012 18:01:00 EST. Please see our terms for use of feeds.

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Chinese automakers hope to boost exports

Chris Tutor — Tue, 15 May 2012 08:57:00 EST

Filed under: China, Europe, Chery, Geely

We've heard for years that Chinese automakers hoped one day to export their wares to the United States. Ironically, the global economic slowdown could be what gives the Chinese incentive to finally make it happen.

Chinese automakers ramped up production capacity to meet surging demand at home only to see the local economic conditions slow from 30 percent growth in 2010 to just 2.5 percent in 2011. On top of that, the Chinese auto marketplace has now become crowded with foreign and domestic competitors.

"The rapid growth phase of China's auto market is coming to an end, and we see exports as one possible outlet for all the capacity we have built up," Xing Wenlin, Great Wall Motor vice president in charge of overseas markets, tells Reuters. Great Wall's Phenom concept (pictured above) was shown a few years ago as a possible export model.

While most Chinese-made cars aren't up to American quality expectations, developing automotive markets like Egypt, Ukraine, Brazil and Indonesia are clamoring for cheap, reliable transportation. Chinese automaker Chery said earlier this year it would be selling cars in Europe by 2015.

Geely's purchase of Volvo in 2010 has boosted the Chinese company's automotive technology expertise and could help it achieve its goal of doubling exports to 70,000 units this year. While the U.S. is still out of reach for most Chinese automakers, Geely may begin selling a Chinese-made car in the UK by the end of this year. If successful there, a logical next market would be North America.

Chinese automakers hope to boost exports originally appeared on Autoblog on Tue, 15 May 2012 08:57:00 EST. Please see our terms for use of feeds.

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Geely announces $11 billion investment in Volvo

Dan Roth — Mon, 09 Apr 2012 10:00:00 EST

Filed under: China, Plants/Manufacturing, Volvo, Earnings/Financials, Geely

Volvo is poised to rapidly inflate its presence in China, and it believes the way forward is through an $11 billion spending plan. "We want to revive Volvo and give the brand its strength back," says Li Shufu, Chairman of Geely Automobile Holdings. Speaking with German magazine Wirtschafts Woche, Shufu disclosed that Geely will put up $11 billion for a new engine factory, increased research and development and technology upgrades. However, Volvo's Per-Ake Froberg tells Reuters that Volvo itself will be providing the funds through borrowing and other means.

No matter where the funding comes from, the investment is meant to aggressively drive the Volvo brand in the Chinese market, where the Swedish brand sold about 50,000 cars last year. Geely wants Volvo to account for 20 percent of the premium car market in just three years(!) with a target of 200,000 vehicles for 2014. It's all part of an ambitious plan to double Volvo sales over the next ten years, and for its stewardship, Geely will get a new premium brand for China that uses Volvo tech and engineering. In addition, the two brands will be combining their purchasing power to get better deals from suppliers and small engine and electric vehicle development will also be shared between Volvo and Geely.

As the last Swedish brand standing, it's heartening to see that Geely has designs on increasing Volvo's sales. Here's hoping the recently voracious appetite for cars in the Chinese market doesn't shortchange American buyers looking for Nordic iron.

Geely announces $11 billion investment in Volvo originally appeared on Autoblog on Mon, 09 Apr 2012 10:00:00 EST. Please see our terms for use of feeds.

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NBA sensation Jeremy Lin talking to Volvo about sponsorship deal

Jeff Sabatini — Wed, 14 Mar 2012 09:29:00 EST

Filed under: China, Marketing/Advertising, Volvo, Celebrities

Linsanity's next stop could be your local neighborhood Volvo dealer. If you live in China, that is.

According to a report by Bloomberg, Jeremy Lin, the sophomore NBA sensation is in talks with the Chinese-owned carmaker about signing up to endorse the brand overseas. Lin, the bilingual point guard from Harvard, has entered the NBA limelight this season while playing for the New York Knicks.

According to Bloomberg, Lin is the first American of Chinese descent to play in the NBA. Former NBA All-Star Yao Ming, a Chinese national, remains one of the most popular celebrities in China after his retirement from pro basketball last summer. Tapping into the NBA's growing popularity in China could help boost Volvo, which is not as well known as more established luxury brands like Audi or Buick.

For Lin, capitalizing on his nascent success with Volvo would have to be seen as a positive move, given the fickle world of sports endorsements. As talented as Lin is, the annals of the NBA are littered with flash-in-the-pan guys who had but 15 minutes of fame before fouling out of celebrity life forever.

NBA sensation Jeremy Lin talking to Volvo about sponsorship deal originally appeared on Autoblog on Wed, 14 Mar 2012 09:29:00 EST. Please see our terms for use of feeds.

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Volvo replaces Peter Horbury with ex-VW designer

Jonathon Ramsey — Tue, 13 Mar 2012 08:30:00 EST

Filed under: Hirings/Firings/Layoffs, Volvo, Design/Style

Volvo has chosen former Volkswagen designer Thomas Ingenlath to replace Peter Horbury as the head of the Swedish brand's design department, the latter having moved up the ladder to oversee design work at Volvo's corporate parent, Geely. Ingenlath was with the VW Group for 20 years and did stints with Audi, Skoda and Volkswagen, leading work on concepts and production cars like the VW Nils Concept, the Bluesport Roadster and first-generation Skoda Fabia and Superb.

After a couple of years trying to decide where it wanted to be - or at least, how it wanted to be described - on the luxury spectrum everyone seems to be on message now. Volvo will be looking for Ingenlath to continue its progress toward being a "top-tier luxury brand," in the words of CEO Stefan Jacoby, and "a truly luxury automotive brand" in the words of Geely CEO Li Shufu. Check out the official press release below for more details.

Continue reading Volvo replaces Peter Horbury with ex-VW designer

Volvo replaces Peter Horbury with ex-VW designer originally appeared on Autoblog on Tue, 13 Mar 2012 08:30:00 EST. Please see our terms for use of feeds.

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Volvo bidding for (parts of) Saab

Chris Shunk — Fri, 24 Feb 2012 10:59:00 EST

Filed under: China, Etc., Europe, Plants/Manufacturing, Saab, Volvo, Earnings/Financials, Geely

Volvo is reportedly interesting in getting out its checkbook in search of a production parts bargain over at Saab. No, the 9-5 likely won't be wearing a Volvo badge any time soon, but the tooling that helped build parts for the big sedan could one day be in a Volvo factory.

SaabsUnited quotes an unnamed source who states that Volvo is interested in purchasing tooling from the Saab bankruptcy estate. The source reiterated that Volvo isn't interested in any production at the Trollhättan factory, adding that the purchased parts would likely travel to China for use by Volvo owner Geely.

While we're putting this story in the rumormill for now, purchasing expensive tooling at a fire-sale discount sounds like a potentially brilliant idea for Geely and Volvo. Volvo could soon begin building vehicles in China to expand its presence in the emerging market, and it always helps to get such a project off the ground with some high-quality parts that obviously haven't been used much lately.

Volvo bidding for (parts of) Saab originally appeared on Autoblog on Fri, 24 Feb 2012 10:59:00 EST. Please see our terms for use of feeds.

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Volvo designer Horbury headed to China with Geely

Dan Roth — Thu, 03 Nov 2011 10:28:00 EST

Filed under: China, Volvo, Geely, Design/Style

When you think of designer Peter Horbury, Volvo follows logically. Soon, we'll all have to expand our thinking to leap from mention of Mr. Horbury to Chinese automaker (and Volvo owner) Geely. The well-regarded designer has been linked with Volvo for decades, and now he's reportedly adding styling responsibilities for Geely to his to-do list. He'll pack his bags in Gothenburg, Sweden where he's been vice president of Volvo design, and touch down in China to offer his talents to the Geely Group as it works to grow its brand and eventually offer its vehicles worldwide.

Bringing a steady-handed designer to lead its styling efforts will help Geely stand apart from its sometimes weirdly penned compatriots. Looking at what the British designer accomplished during his tenure at Volvo, going from iconoclastic boxes to a decidedly curvy design revival in Gothenburg, he's already masterminded what Geely needs to accomplish. The best part is that it's not a loss of design continuity for Volvo, as he'll stay on there, but it's a whole new playground for Mr. Horbury to devise a new design language.

This should be interesting.

Volvo designer Horbury headed to China with Geely originally appeared on Autoblog on Thu, 03 Nov 2011 10:28:00 EST. Please see our terms for use of feeds.

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Unidentified companies 'showing interest' in Saab, but Geely isn't one of 'em

Zach Bowman — Fri, 07 Oct 2011 10:29:00 EST

Filed under: Europe, Plants/Manufacturing, Saab, Earnings/Financials

The Saab story continues. Automotive News and Bloomberg report that all isn't well with the Swedish automaker's Chinese suitors. Saab still hasn't received the $93 million it needs to continue to operate while it undergoes restructuring. The cash was originally supposed to come from Zhejiang Youngman Lotus Automobile in as little as two weeks after a deal was inked, but the process is apparently taking longer than anyone originally envisioned. At this point, Saab doesn't know when the funds will arrive. The company hasn't produced a single vehicle in as much as six months.

Meanwhile, Chinese automaker Geely is denying reports indicating that the company is interested in jumping into the Saab fiasco. As you may recall, Geely bought Volvo in 2010. At this point, the Chinese company says that its resources are currently occupied running its own Swedish brand.

In the meantime, Saab still maintains that it has several unspecified companies interested in potential future partnerships.

Unidentified companies 'showing interest' in Saab, but Geely isn't one of 'em originally appeared on Autoblog on Fri, 07 Oct 2011 10:29:00 EST. Please see our terms for use of feeds.

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Volvo considering building cars in North America

Aaron Richardson — Mon, 19 Sep 2011 08:59:00 EST

Filed under: China, Europe, Plants/Manufacturing, Volvo

Volvo is mulling a U.S. factory to offset some of its exposure to fluctuations in the dollar. One thing the automaker definitely will be doing is expanding its presence in the U.S., and a manufacturing facility would certainly make that way easier.

A U.S. Volvo plant would join factories in Sweden, Belgium and two plants in China. Volvo has been making a push on the Chinese market after Ford sold the Swedish company to Geely last year.

This manufacturing push is part of the company's initiative to double sales to 800,000 cars per year worldwide. The company also intends to invest $11 billion over the next five years, with the crosshairs squarely on the Chinese market.

Volvo considering building cars in North America originally appeared on Autoblog on Mon, 19 Sep 2011 08:59:00 EST. Please see our terms for use of feeds.

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Volvo earns $103M in Q1, $370 million for CY 2010

Chris Shunk — Thu, 12 May 2011 18:01:00 EST

Filed under: China, Crossover, Volvo

Volvo has posted a solid first quarter, with earnings jumping to $103 million. That's nearly double the Q1, 2010 totals, in part due to continued strong demand for its XC60 crossover. The Geely-owned automaker expects the revenue to continue to flow throughout 2011, as the automaker is hoping to increase sales by 70,000 units on the year to 450,000 units.

Volvo has also announced total earnings for calendar year 2010. The automaker says it earned $370 million on the year, again in part because of strong XC60 sales and the successful launch of the S60. High commodity prices weighed down earnings a bit, but the automaker says strong net pricing largely offset the rising price of energy and steel.

Hit the jump to read over Volvo's 2010 earnings press release.

Continue reading Volvo earns $103M in Q1, $370 million for CY 2010

Volvo earns $103M in Q1, $370 million for CY 2010 originally appeared on Autoblog on Thu, 12 May 2011 18:01:00 EST. Please see our terms for use of feeds.

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Geely channels London's iconic taxi with Englong SC7-RV for Shanghai

Chris Shunk — Fri, 15 Apr 2011 17:30:00 EST

Filed under: Wagon, China, Work, Shanghai Motor Show, Geely

Geely Englong SC7-RV - Click above to view the image gallery

Chinese automaker Geely is part owner of Manganese Bronze, which makes the famous black taxi cabs for the UK and Chinese markets. But while a pricey cab makes sense for the UK, a high-dollar cab in China isn't always profitable. For that reason, Geely will introduce the Englong SC7-RV next week at the Shanghai Motor Show.

While the instantly recognizable UK taxi does its job well, it utilizes a platform that is totally unique. By contrast, the Englong SC7-RV will reportedly use a platform from Geely's existing fleet. And since the parts are common and the production will likely occur in China, costs are expected to dip considerably. And if you ask us, the SC7-RV actually manages to look kind of cool. Even better for prospective taxi owners in China, this livery special will likely make it to production.

Gallery: Geely Englong SC7-RV

[Source: China Car Times]

Geely channels London's iconic taxi with Englong SC7-RV for Shanghai originally appeared on Autoblog on Fri, 15 Apr 2011 17:30:00 EST. Please see our terms for use of feeds.

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Video: Volvo teases Concept Universe for Shanghai

Chris Shunk — Fri, 15 Apr 2011 15:59:00 EST

Filed under: Sedan, Videos, Volvo, Shanghai Motor Show

Volvo Concept Universe teaser - Click above to watch the video after the jump

Volvo has ambitious plans to double its current volume by 2020, and a big component of that plan is to penetrate the Chinese auto market. That plan makes abundant sense given the booming Chinese market, and it helps that the automaker is now owned by China's Geely.

A major step toward reaching that goal comes when the Shanghai Motor Show opens to the media next week, as Volvo will unveil the Concept Universe. We are a little short on details at this point, but Volvo predictably saw fit to tease us ahead of its debut. The short post-jump video shows little more than some sketches, a large, covered vehicle, and an outline of a very sleek sedan.

Is the Concept Universe a precursor to a range-topping S90 that Geely chairman Li Shufu seems to want? Could it be a four-door coupe? Heck, some of the sketches almost make it look like like the big Volvo concept will be a fastback. We won't know for sure until next week, but in the meantime, you can hit the jump to watch the video for yourself. Hat tip to Alex!

[Source: Autoblog.it]

Continue reading Video: Volvo teases Concept Universe for Shanghai

Video: Volvo teases Concept Universe for Shanghai originally appeared on Autoblog on Fri, 15 Apr 2011 15:59:00 EST. Please see our terms for use of feeds.

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Yes or No? Jacoby reportedly says Volvo isn't ready for a 7 Series rival

Chris Shunk — Mon, 01 Nov 2010 11:32:00 EST

Filed under: Volvo, Geely

Just days after Geely purchased Volvo from Ford, the Chinese automaker's chairman, Li Shufu, proclaimed that the Swedish automaker needed a 7 Series fighter. Shufu's idea makes a lot of sense, at least in the large car-loving China market, where Volvo leadership wants to push a lot more metal. But when Shufu stated that Volvo needed to go big, he admitted that he needed to sell the idea to the company's new board. According to Autocar there is at least one very important vote that doesn't like the idea - at least not yet.

New Volvo CEO Stefan Jacoby reportedly called the idea of a Volvo that can go toe to toe with a Mercedes-Benz S-Class "a step too early." The British site claims that Jacoby prefers to hold off on going further upscale until after Volvo reaches its goal of 800,000 sales per year within the next five years.

So who's right here? Shufu undoubtedly knows the China market very well, and he's thinking that the key to China's collective heart comes in the form of a sedan with a lot of rear leg room. Jacoby, on the other hand, is taking a more pragmatic approach; use the company's funds to spur overall growth and then look upmarket once the company reaches its volume goals. Add in the fact that Jacoby already experienced first-hand how tough it can be to bring a new large luxury vehicle to market (Volkswagen Phaeton, anyone?), and we can see why the new Volvo CEO is preferring to play it slow.

[Source: Autocar | Image: Bjorn Larsson Rosvall/AFP/Getty]

Yes or No? Jacoby reportedly says Volvo isn't ready for a 7 Series rival originally appeared on Autoblog on Mon, 01 Nov 2010 11:32:00 EST. Please see our terms for use of feeds.

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