Volvo Cars Said to Select Chengdu for First Chinese Factory

Volvo Cars, the Swedish automaker acquired by Zhejiang Geely Holding Group Co. last year, will build its first Chinese assembly plant in the city of Chengdu, a person with direct knowledge of the plan said.

The Swedish carmaker’s supervisory board signed off on the new factory at a meeting yesterday, said the person, who asked not to be identified ahead of the official announcement Feb. 25. Volvo Cars spokesman Stefan Elfstrom declined to comment.