Volvo’s CEO Stefan Jacoby rules out a rival for 7-Series and S-Class

Article by Christian Andrei, on November 1, 2010

If you wanted to buy the new Bmw 7-Series rival from Volvo, you’d better drop that plan, as Volvo’s new CEO Stefan Jacoby said in an interview for Autocar that it is too early for the Swedish manufacturer to build such a car.

When Geely acquired Volvo, firm’s boss Mr. Li Shufu said that the Swedish car maker will built more high-level premium cars in order to compete with cars such as the Mercedes-Benz S-Class and the Bmw 7-Series.

Apparently, this car is considered a step too early by CEO Stefan Jacoby, and Volvo will only think of these types of cars only after it will reach its goal of 800,000 sales. In order to reach that goal, Volvo may build three plants in China, a recent report confirmed.

Furthermore, Li Shufu said that Volvo has all it takes (technology and research capabilities) in order to compete with the German manufacturers at the top end of the market.

The Chinese market would be the most important for Volvo, according to Shufu. For those who don’t know, Volvo was bought for over $1 billion, and Geely wants to double the company’s sales from last year’s 335,000 units.

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