Sweden based Volvo Cars, the
premium car maker, has received almost 80,000 orders for the new award-winning
XC40 small SUV and is expanding production in Europe and China in order to meet
Production will be expanded at
its Ghent (Belgium) manufacturing plant and Volvo Cars will add XC40 production
capacity at its Luqiao plant in China in the first half of next year,
underlining the popularity of this year’s European Car of the Year.
In addition, the company has
also announced that it will capitalise on the popularity of its new smaller
models with the introduction of new models on its Compact Modular Architecture
(CMA), replacing the current V40.
“The XC40’s success has
surpassed even our highest expectations,” said Håkan Samuelsson, president and
CEO of Volvo Cars. “The small SUV segment is the fastest-growing segment in the
industry now, and with these additional CMA-based models we expect to benefit
further from that growth, ” he added
The coming new models based on
CMA will include fully electric vehicles and will be sold globally in all major
regions. More product details will be disclosed at a later stage.
The XC40 was launched in late
2017 to global acclaim and was the first ever Volvo to win European Car of the
Year in March of this year. The new XC40 is the first model on Volvo Cars’ new
CMA vehicle architecture. Co-developed with Geely Holding, CMA provides Volvo
Cars with the necessary economies of scale for this segment.
In March, Volvo Cars announced
it will produce cars for its new sister brand Lynk & Co at the Ghent plant.
Like the XC40, the first Lynk & Co model is based on CMA.
Volvo Cars has been under the
ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It
formed part of the Swedish Volvo Group until 1999, when the company was bought
by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely
In 2017, Volvo Cars employed
on average approximately 38,000 (30,400) full-time employees. Volvo Cars head
office, product development, marketing and administration functions are mainly
located in Gothenburg, Sweden. Volvo Cars head office for China is located in
Shanghai. The company’s main car production plants are located in Gothenburg
(Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are
manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in
Source: Volvo Cars
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