According to an article in the Financial Times, Li Shufu, the new chairman of Volvo and co-chair of Zhejiang Geely Holding Group, wants to build a car to compete with the likes of the "to compete with the BMW 7-Series and Mercedes S-class".
The Chinese company recently finalised it's purchase of Volvo from the Ford Motor for US$1.5bn.
BTW, just check out the new S60 from Volvo.
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