Geely-Volvo work­ing on small model

China Daily (Canada) - - NEWSCAPSULE -

Zhejiang Geely Hold­ing Group, par­ent com­pany of Volvo Car Corp and Geely Au­to­mo­bile Hold­ing Ltd, is de­vel­op­ing a new model at its new re­search and de­vel­op­ment center in Swe­den.

The smaller car, de­vel­oped jointly by engi­neers from Geely and Volvo, is de­signed to give the Swedish lux­ury brand, which Geely ac­quired in 2010, a foothold in the en­try-level auto-buy­ing seg­ment, ac­cord­ing to Wall Street Jour­nal re­ports.

Al­though the new model is only at the ini­tial de­vel­op­ment phase, which is due to last sev­eral years, the com­pany said it is cer­tain to meet Western mar­kets’ safety and qual­ity stan­dards.

Thee car re­port­edly will be lo­cally pro­duced at Volvo and Geely’s joint ven­ture in Chengdu and is po­si­tioned to com­pete with the Ford Fi­esta, Honda Fit, Volk­swa­gen Polo and the Toy­ota Yaris.

KIM KYUNG-HOON / REUTERS

A chef shows a cake dec­o­rated with a white choco­late in the shape of a horse, dur­ing a photo op­por­tu­nity at a kitchen of Kerry’s Pantry, ahead of the up­com­ing Chi­nese New Year, in Bei­jing on Jan 16.

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