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Geely to Tap Volvo’s EU Plants Amid Industry’s ‘Very Serious’ Overcapacity
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Geely to Tap Volvo’s EU Plants Amid Industry’s ‘Very Serious’ Overcapacity
Geely‘s founder and President Li Shufu said on Tuesday that the group will build more vehicles in Europe using existing plants owned by Volvo Cars. The Sweden-based brand has been under the Chinese giant’s umbrella since 2010. In a group interview at Volvo Cars‘ headquarters in Gothenburg, the Chinese billionaire warned of “very serious” overcapacity in the global car industry. “I think the solution for Geely and Volvo is for us to utilise our c…
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