Today, it appears the automaker has already changed course regarding the sedan as its CEO, Stephen Jacoby, offered this to Automotive News, “It is not in our midterm of long-term strategy right now.” Driving the nail in the coffin, Jacoby even added, “It has been decided.”
The CEO went on to explain that he believes it is too early for Volvo to begin focusing on such a major undertaking given the recent acquisition by Zhejiang Geely Holding Group, and the transition that came along with it. Instead, Jacoby wants the brand to focus on its core offerings, current and future, rather than a risky new segment.
Volvo also has huge plans for expansion into China given its new ownership which includes building two plants in China in the next two years as part of an overall $ 11 billion investment to redesign products and update its production capacity worldwide.
Via: Autonews
