Volvo Car Group is designing its first model under the ownership of Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co. with an emphasis on automotive safety to revive worldwide sales.
The Swedish automaker, which introduced the three-point seat belt as a standard fitting in 1959, will load its new XC90 sport utility vehicle with crash-avoidance technology and accessories such as a crystal gear-shift lever by glassmaker Orrefors and a proprietary touch screen compatible with Apple and Android devices. The model is scheduled for its first public presentation on Aug. 26 and enters showrooms next year.
“I hope that through this product, it will allow Volvo to once again find self-confidence,” Li, chairman of both Volvo Cars and Geely, said last month in an interview in Hangzhou, China. “To find once again, the territory that belonged to Volvo in the 50s and 60s, and to once again possess the market share it ought to possess.”
The XC90, replacing a version built since 2002, is the initial vehicle in Volvo’s four-year, USD11 billion project to produce a broad range of models on a single manufacturing line offering a selection of electric-power variants and safety components. The automaker is working on a separate setup with Hangzhou-based Geely for a small-car range that will use some elements of the technology.
“This car is Geely and Volvo’s first shot after the merger so it has to be loud and heard widely,” said Han Weiqi, a Shanghai-based analyst at CSC International Holdings. “It also gives a hint on the future of Volvo under Geely’s ownership, which is to consolidate its position as a premium brand.” Bloomberg
Volvo plans safety-first SUV in revamp under mainland owner
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