Volvo Finally Goes Domestic in China
The Chinese auto market is the largest in the world, but most of the country’s autos are foreign – according to TIME, “More Chinese drive a Ford, Volkswagen or Nissan than a Chery, Dongfeng or Great Wall. And as buyers become more affluent, domestic marques are shunned even more.”
Back in 2010, Ford sold Swedish carmaker, Volvo, to a Chinese company known as Geely, and only now, is the company hitting the Chinese market with its first vehicle to be rid of Ford tech, the XC90. According to TIME, Geely has already invested $11 billion in the development process that the company hopes will bring about a renewed Volvo fleet by 2020.