Daqing Volvo sales abroad from May
Chinese workers assemble premium sedans on the assembly line at the auto plant of Daqing Volvo Car Manufacturing Co., Ltd. in Daqing city, northeast China's Heilongjiang province, 12 April 2017. Premium sedans manufactured at the Volvo Cars Daqing plant, in northeastern China's Heilongjiang province, are expected to start selling abroad in May, a senior executive of the company said. "We're arranging for dealers from the US, Europe and Asia-Pacific countries to visit our plant," said Yan Shiying, corporate communications manager of Volvo's Daqing plant. She said the plant's product - Volvo's new S90 saloon - is selling well in the Chinese market. The model is billed as an advanced premium vehicle with a semiautonomous driving program called Pilot Assist, which gives steering input to keep the car properly aligned within lane markings up to motorway speeds of around 80 mph (130 km/h). "Since the massproduction started for our S90 T5 and T4 models last November, a new vehicle drives off the production line every three minutes," Yan said. She said that staffing levels had grown from 600 to 2,000, with more than 30 foreign nationals - and in order to meet the strong market demand, the plant was working increased shifts from this month.Cheng qiang—Imaginechina/AP
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Company Information

CEOMartin Lundstedt
SectorMotor Vehicles & Parts
IndustryMotor Vehicles and Parts
HQ LocationGoteborg, Sweden
Years on Global 500 List23

Key Financials (Last Fiscal Year)

Revenues ($M)$35,269
Profits ($M)$1,535.8
Assets ($M)$43,924
Total Stockholder Equity ($M)$10,577

Profit Ratios

Profit as % of Revenues4.4%
Profits as % of Assets3.5%
Profits as % of Stockholder Equity14.5%