Volvo's owner, Geely is planning to enter Europe and U.S. in the coming years.
Reuters reports that Geely will building a new crossover based on the Compact Modular Architecture - a platform that Geely and Volvo have been working together. Along with new engine technology, this car will launch in China in 2017. The crossover will then head into several Europe markets a year later, followed by the U.S. in due time.
"With the CMA car, Li wants to tell the world we're ready for the big time. We're ready to break into Europe and the U.S.," a source told Reuters.
The new crossover was designed with the U.S. market in mind. But before Geely plans on sending it to the U.S., it will sell the crossover in Spain, Portugal, Italy, Britain, and Eastern Europe.
"Those markets, Britain in particular, are open to foreign cars, while northern Europe, France and Germany are not," a source said.
While the Chinese market will get a gasoline variant, Europe and the U.S. will get a alternative-fuel model, possibly a plug-in hybrid. The goal with this is to make Geely seen as a maker of affordable, high-tech cars.
"It's an effort to burnish our brand before we bring out more mainstream gasoline-fueled cars to Europe and eventually to the U.S.,"