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Volvo CEO Says China Plant Key to Success With Geely

Volvo Cars’ success after its sale to Zhejiang Geely Holding Co. will hinge on building a manufacturing plant in China, the Swedish carmaker’s chief executive officer Stephen Odell said.

“When you look at the car industry in China, if you want to be even a 2 percent player there -- and 2 percent is not a bad aspiration -- you have to have local manufacturing,” Odell, 55, said in an interview late yesterday. “We already have local manufacturing through a contract party, but it’s clear Volvo needs more capacity to grow.”