Chinese Owners Begin Volvo Overhaul
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FYI: Volvo Buyers Guide-Specs, Reviews, Prices and Comparisons
HANGZHOU, China Norihiko Shirouzu writing for the AP reported that when Volvo Car Corp. debuted its newest design recently, it turned heads with an edgy look that departed from the staid style that has been its hallmark. The upscale sedan has sleek curves and pale purple LEDs in its grille in a bid to plant the Swedish company more firmly in the luxury segment.
The car represents a compromise between competing visions of Volvo's future. On one side is Volvo's European chief executive, Stefan Jacoby, and on the other, the company's hard-charging new Chinese owner, Li Shufu. Mr. Li's Zhejiang Geely Holding Group Co. acquired Volvo from Ford Motor Co. last year, in a landmark deal that put a global auto maker in Chinese hands for the first time.
In the nearly 10 months since the acquisition was completed, Mr. Jacoby and Mr. Li have worked to reconcile their visions and differing management styles to chart a course for a Volvo revival. By upgrading its product lineup to compete head-on with BMW and Mercedes-Benz in the crowded luxury market, Volvo risks diluting its reputation for building safe, family-friendly vehicles. The process has been occasionally rocky, as laid bare in a series of interviews with top executives that offer a rare look under the hood of a Chinese company's international expansion.