Azernews.Az

By Bloomberg

Volvo Car Group, owned by Zhejiang Geely Holding Group Co., will make a decision on a site for its U.S. plant within a few weeks.

The Swedish carmaker is evaluating factors including logistics and the availability of labor and suppliers, Chief Executive Officer Hakan Samuelsson said in an interview in Shanghai on Monday.

“We have very few candidates left on the list,” he said at the Shanghai auto show, which opens to the public this week. “Within some weeks we will make the final decision.”

Volvo said last month it plans to invest $500 million to build its first auto factory in the U.S. as part of its plans to revive sales following a plunge in demand over the past decade. The carmaker starts deliveries of the new XC90 sport-utility vehicle this quarter and plans to replace all its models within the next four years.

The company, bought by Zhejiang Geely in 2010, boosted operating profit by 17 percent last year after sales surged to a record, with China becoming its largest market.

Volvo, which has assembly plants in Sweden, Belgium and China, said in February that deliveries this year may rise more than 7 percent to as many as 500,000 vehicles.