Auto industry put pedal to metal

Volvo unveils first locally made model

The Volvo S60L [Provided to China Daily]

Volvo Car Corp unveiled its first locally built model S60L on Dec 13 in Beijing.

Made at its Chengdu plant, it is Volvo's first model produced outside Europe. In addition to the Chinese market, the model will also be exported to countries including the United States.

The move is expected to boost the brand's sales in China. It sold 61,146 units in 2013, a 45.6 percent rise from the previous year.

Volvo also has a new auto production facility in Daqing, Heilongjiang province, an engine plant in Zhangjiakou, Hebei province, and an R&D center in Shanghai.

The Daqing plant will produce sedans, SUVs and clean energy models, while the Zhangjiakou factory is designed to provide engines for the two plants in China.

Both the Daqing and Zhangjiakou plants are operated by a joint venture between Volvo and Geely. The Chengdu plant is affiliated with Zhejiang Haoqing Carmaking Factory, which is wholly owned by Geely.

Volvo Group has a 30 percent share in a joint venture with Geely that formed after the Chinese automaker acquired Volvo Car Corp in 2010.