Geely-Owned Volvo Seeks Parts Outside China – FT

Fear of more pandemic lockdowns has prompted Volvo Cars to undertake sourcing alternatives for its Chinese-made parts, the Financial Times reported.

Lining up two providers of automotive parts allows carmakers to reduce their exposure to shocks but adds to costs, chief executive Jim Rowan said. Volvo is owned by China’s Zhejiang Geely Holding.

Read the full report: Financial Times.

READ MORE:

Geely-Owned Volvo to Spend $1.1bn on EV Plant Conversion

How The Chinese Tycoon Driving Volvo Plans to Tackle Tesla

Volvo Cars to Take Full Control of its Chinese Business

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

You Might also Like

Volkswagen’s China Troubles Worsen Amid New Forced Labour Claim

Top Execs at Toyota’s Daihatsu Bow Out Over Safety-Test Scandal

Hyundai Motor to Sell Russian Plant at $219 Million Loss

Toyota Japan Shutdown Down to Lack of Disk Space – Nikkei