Four thousand China-made Volvo S40 models will be sold by the end of the year, according to manufacturer Changan Ford Auto Company, based in Chongqing.
The Volvo S40 2.4i will cost 305,000 yuan and the Volvo S40 T5 will cost 368,000 yuan. According to the cooperation agreement between the Swedish car manufacturer and Changan Ford, Volvo has granted a license to Changan to manufacture and sell cars throughout China.
As the first Volvo model to be produced in China, S40 is described as "luxurious but not too expensive". Reservations for the S40 have already been made after the first 142 cars were produced in June.
(Xinhua News Agency July 24, 2006)