Summary “Volvo’s Heart will remain in Sweden”

* Volvo is a brand of premium cars and well known as a safe and trusted cars in United States and Europe. * This Swedish brand is rarely been compared by its predator – at least until now. * Volvo’s new owner is Li Shufu, the chairman of Geely (Chinese Car). * Li Shufu thinks of Volvo as a tiger penned in the zoo and it needs to be loose and liberated in the broader world. * Li Shufu bought Volvo from the previous owner Ford Motor, making Volvo a China’s first purchanse of a premium western car marque. * Mr. Li told the reporter that the Volvo tiger’s ‘heart’ would remain in Sweden, where it has two plants, and in Belgium, where it has one. * Volvo’s manufacturing footprint will be kept in Europe. * Volvo sits in the ‘near-luxury’ or ‘only-just-upscale’ part of the car market, alongside with the rival Swedish brand Saab and Fiat’s loss making Alfa Rome. * Volvo is a subsection of the premium market under attack from luxury leaders BMW, Mercedez-Benz, and Audi since the car industry’s crisis began in 2008. * The German brands’ superior sales and higher prices have allowed them to outspend Volvo on research and development, and ride out the crisis in fitter shape. * Volvo’s signature contribution to car industry history is the three-point seatbelt which it claims has saved more than 1 million lives, make other cars to follow suit. * Even at their 50th year, their have a solid reputation for a safety, but a dull and worthy image among some consumers and an urgent need to raise its game. * Toyota’s Lexus have recently matched or outdone it in pioneering some safety features. * Volvo’s reputation for building safe cars is very helpful for business in China as safety becomes an increasing priority in the world’s largest car market. * In design, Volvo is making more