Volvo to Build New Car Plant in China, Aims to Sell 200,000 Vehicles in the Chinese Market by 2015

At a press conference held earlier today in Beijing, Chinese-owned Volvo Cars announced plans to build a new plant in the city of Chengdu and continuing investigations for a second factory in Daqing, in north-eastern China. Volvo said that the deal is still pending approval from the Chinese government. "We regard the Chinese market as the second home market for Volvo Car Corporation and a very