Volvo CEO Stefan Jacoby says that the Swedish automaker’s goal of hitting 800,000 global sales by 2020 will require upping its workforce by around 10,000 people.
“By then, we will have to increase our headcount to 33,000 – 35,000 employees,” Jacoby told Automotive News.
Of Volvo’s roughly 24,000 current employees, the publication estimates that only around 1,000 are in China. But most of the growth will be in that market, which has become the world’s largest. Volvo was acquired in 2010 by Geely, a Chinese car builder, and it plans to open two factories in the country within the next handful of years.
Most of Volvo’s sales growth is also expected to come from the Chinese market, which Jacoby estimates will essentially quadruple to 200,000 units by 2020 compared to the approximately 49,000 anticipated this year. Globally, Volvo should sell about 430,000 to 440,000 cars this year, a big jump from the 374,000 it delivered last year.
There is no sign of a slowdown. Our order books are filled up until spring 2012,” Jacoby said.
Jacoby has said that Volvo might consider exporting cars from China if demand is strong enough, but rival BMW has beaten the Swedish automaker to the punch.
References
1.’Volvo will add…’ view
