Stefan Jacoby, CEO of bought-by-Geely Volvo needs to bring down the cost of Volvo’s European-made cars.
So where will the new Volvo factories be? You have two tries.
China? Check. Volvo might actually open three factories in China, Stefan Jacoby said recently in Stockholm. Details should be forthcoming within the next weeks.
Ok, now for another country …
Would you have guessed the U.S. of A? “Our first priority is to extend production to China,” Jacoby said. “The U.S. is also a priority.” The Freep says that Jacoby has experience in building a plant in the U.S. The former head of VWoA “oversaw site selection and construction of a $1-billion assembly plant outside Chattanooga, Tenn.”
Who would have thunk it? The Chinese buy Volvo, and jobs come to America. As a second alternative.