Pursuits
Volvo Cars to Roll Out New Urban Compacts in Drive for Growth
- Carmaker to share production platform with Chinese owner Geely
- 40-series models to be made at Belgian plant starting in 2017
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Volvo Car Group, known for its sturdy wagons and sport utility vehicles, will start rolling out a series of compact models next year to compete with the likes of Audi and BMW for younger, urban consumers .
The new line, dubbed the 40 series, is set to include an SUV, sedan and hatchback as well as an all-electric model, the company said Wednesday in a statement. The cars, based on a new platform shared with Volvo’s Chinese owner Zhejiang Geely Holding Group Co., is part of a push to boost sales by about two-thirds.