According to Reuters reported on November 29, Zhejiang Geely Holding Group and its brand Volvo are considering launching a joint venture Lectra brand in Belgium and the United States.
The first model of the Lectra brand, the Compact SUV, was launched in China on November 28th. It is planned to enter the European market in 2019 and then enter the US market in 2020. The 01 is priced at $158,800 (US$24,066) and is now produced with Volvo's new XC40 crossover SUV at its new Volvo plant in Taizhou. The second factory of the company is expected to start production in Zhangjiakou next year.
The leading car will initially use a gasoline engine, and plans to produce 01 and other versions of petrol-electric hybrids, plug-in hybrids and pure electric vehicles in the future.
Leading senior vice president Alain Visser said that in the future, the leading car will expand to Europe and the United States. “Our production footprint is global,†he said. “We are in consultation with Volvo to see if a small network at the Volvo factory is possible (production of the Lectra car).†Volvo's plant in Ghent, Belgium is “the choice being considered†Volvo's plant in South Carolina is also under consideration.
Weiss said that by the end of 2021, Lectra will launch five to six models, with an annual sales volume of 500,000 units, of which about 50% will be sold in China, and another 50% will be sold in Europe and America. The listing of the company marks the end of a decade of auspicious swordsmanship in the domestic and international markets dominated by overseas brands.
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