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President Xi Jinping visits Chinese-owned Volvo car plant in Belgium

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President Xi Jinping visits Chinese-owned Volvo car plant in Belgium

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China’s President Xi Jinping ended his visit to Europe with a look round the Chinese-owned Volvo car factory in Ghent, Belgium, accompanied by the Belgian king and queen.

China’s biggest independent car company, Geely, bought Swedish-based Volvo from Ford nearly four years ago.

Since then production at the Ghent facility has increased steadily and President Xi unveiled the 300,000th car made at the plant.

Volvo’s chairman Li Shufu said it is aiming for annual sales of 800,000 vehicles by 2020, almost double the level last year, helped primarily by growth in China.

“The long term target beyond 2020 is above a million cars,” Shufu was quoted a saying in an interview in Brussels with Swedish business daily Dagens Industri.