Volvo Shopping Around for a Partner to Build Cars in North America, Wouldn't Mind Talking to Fiat

Not to be outdone by its German rivals in the premium segment, Volvo is actively looking for a new partner to manufacture cars in North America, according to a report from Bloomberg News that cited an interview with the Swedish automaker's CEO Stefan Jacoby. 

 

"In the medium term, five to six years, we need to find a proper solution in North America," Jacoby told the news site on Thursday during a conference in Monaco. "Building a plant ourselves is maybe more unlikely. I’m looking for a partner that could help us utilize a North American plant."

Jacoby admitted that Volvo Cars is "open to everybody" including the Fiat-Chrysler Alliance. "Fiat is obviously one of the alternatives," Jacoby said. "If you speak to Marchionne, just tell him to call me," he told Bloomberg. 

 

Volvo Cars, which Zhejiang Geely Holding Group Co. acquired from Ford Motor Company in the summer of 2010, wants to double its sales to over 800,000 cars and crossovers by 2020 from 449,255 vehicles it delivered in 2011.

 Even though the United States remains Volvo's largest market with a little over 67,000 sales last year followed by Sweden and China, Jacoby said that the carmaker continues to post losses in the U.S. whereas it remains profitable in Europe.