Manufacturer · China

Volvo: the Geely-owned Swedish brand, with three plants in China and the new XC70 plug-in hybrid

THE AUTO OUTLET TEAM · UPDATED SEPTEMBER 23, 2026 · ~7 MIN

In short

Volvo Cars is the Swedish car brand founded in 1927 in Gothenburg, known for safety. Since 2010 it has belonged to China's Geely Holding group, which still owns most of the shares, even though Volvo is listed on the Stockholm stock exchange. Volvo has three plants in China (Chengdu, Daqing and Taizhou), and China was its largest market in 2025. In Moldova, we bring the Volvo XC70 to order: a plug-in hybrid SUV with a long electric range, built in Taizhou for the Chinese market on the new SMA platform, with a lot of technology from the Geely group.

Volvo, official photo
Contents
1927the year it was founded, in Gothenburg (Sweden)
2010bought by Geely from Ford, for $1.8B
710,042cars sold worldwide in 2025
21%of 2025 sales were in China (149,549 cars)

Volvo models in Moldova

Prices are the lowest in our catalog on October 5, 2026, excluding cars already sold. They are final prices in Moldova, including transport, customs and registration. Those not in stock we bring from China, in 4–8 weeks on average.

Auto Outlet catalog · October 5, 2026

Lowest final price in Moldova, by Volvo model

XC70€38,600

We bring all the models above to order.

We can also bring any other Volvo model sold in China. See the full lineup below.

What to know before buying a Volvo

  • The XC70 is a car for the Chinese market. It is built in Taizhou for China. Volvo has announced it will bring it to Europe "later", but as of September 2026 it had not given a date and, from what we found, it was not officially sold in the European Union. The Chinese version has infotainment and apps designed for China, without the Google services of European Volvos. Ask us what language and features the car you choose has.
  • Volvo's European warranty may not cover the car. The official Volvo network generally services cars sold through its own network. The official Volvo importer in Moldova is DAAC-Hermes (Volvo Car Moldova), with a Volvo service center in Chișinău. We found no public information on how it treats an XC70 brought from China, a model that isn't even officially sold in Europe. Don't rely on the official network's warranty or service without written confirmation from them.
  • A new model, already with a recall. In February 2026, the Geely subsidiary that builds the XC70 recalled 14,768 all-wheel-drive XC70s in China, built between May and December 2025, over a problem with the left rear half-shaft. For a car from that period, ask for proof that the repair was done.
  • More and more components come from the Geely group. This brings lower prices, but also risks: in February 2026, Volvo recalled over 40,000 EX30s over a risk of overheating battery cells produced by a Geely joint venture with Sunwoda. A Volvo made in China for China is no longer identical to a European one.

Volvo · annual sales

Volvo Cars annual sales, worldwide

20212022202320242025

Volvo fell in 2022 because of the chip shortage and the lockdowns in China, had records in 2023 and 2024, then fell 7% in 2025. China's share dropped from about 25% in 2021 to 21% in 2025.

Source: Volvo Cars, annual sales press releases (Cision)

  • Volvo in China, by year2021: 171,676; 2022: 162,322; 2023: 170,091; 2024: 156,370; 2025: 149,549 cars
  • Volvo in China, plug-in hybrids in 202524,624 cars, more than twice as many as in 2024 (+116%), thanks to the XC70
  • Volvo XC70, sales in China in 202511,327 cars in about three months of sales (Yiche data)
  • Volvo, June–August 2026148,239 cars, -7.4% compared with the same period of 2025

Brand facts

Full nameVolvo Car AB (publ), known as Volvo Cars; in Chinese 沃尔沃. It is not related to AB Volvo, the truck and bus maker, with which it only shares the name and logo.
HeadquartersTorslanda, Gothenburg (Sweden). Research and design centers in Gothenburg and Shanghai.
OwnerZhejiang Geely Holding Group, the group founded by Li Shufu, which owns about 79% of the shares (78.7% after selling a stake in November 2023). Li Shufu is the chairman of the board of Volvo Cars.
Company typeListed on Nasdaq Stockholm (ticker VOLCAR B) since October 29, 2021, with Geely Holding as majority shareholder.
What it makesSUVs, sedans and wagons: mild hybrid, plug-in hybrid (PHEV) and electric (EV). Its own plants in Gothenburg (Sweden), Ghent (Belgium), Ridgeville (US) and, in China, in Chengdu, Daqing and Taizhou. The Košice plant (Slovakia) is under construction.
Related brandsPolestar (Volvo owns about 20%). In the Geely Holding group: Geely, Zeekr, Lynk & Co, smart, Lotus. From January 2027, Volvo becomes the distributor of Lynk & Co in Europe.
Presence in EuropeEurope is Volvo's largest region: 332,667 cars sold in 2025, almost half of the total. Volvo sells in over 100 countries.
In-house technologiesThe SPA, SPA2 and SPA3 platforms (Volvo's own), CMA (developed together with Geely, also used by Lynk & Co and the Polestar 2), SEA (Geely's, on the EX30 and EM90) and SMA (on the XC70). The three-point seat belt, invented by a Volvo engineer and fitted as standard since 1959.

A short history

Volvo Cars was founded in 1927 in Gothenburg and built its reputation on safety: Volvo engineer Nils Bohlin invented the three-point seat belt, fitted as standard since 1959. In 1999, the AB Volvo group (trucks and buses) sold its passenger car division to Ford for 6.47 billion dollars. Under Ford, Volvo joined the premium brand group alongside Jaguar, Land Rover and Aston Martin, but lost money.

In 2010, Ford sold Volvo Cars to Geely Holding, Li Shufu's Chinese group, for 1.8 billion dollars. It was the largest overseas acquisition ever made by a Chinese carmaker. Geely let Volvo work independently: what followed were the SPA platform, the new XC90 (2014), new 3- and 4-cylinder engines and, in 2015, the first year with over half a million cars sold. In 2020, Volvo and Geely discussed a full merger, abandoned in 2021; in October 2021, Volvo Cars listed on the Stockholm stock exchange.

Also under Geely, Volvo became a Chinese manufacturer. The Chengdu plant has been producing since 2013, Daqing since 2014, and the Taizhou plant (Luqiao district), which also builds the Polestar 2, was bought by Volvo from Geely in December 2021. Volvo worked with Geely on the CMA platform (XC40, Lynk & Co, Polestar 2) and uses Geely's SEA platform: the EX30 electric SUV, launched in 2023, was at first built only in China, and since 2025 it is also built in Ghent (Belgium) and in Malaysia. The EM90 electric MPV is a version of the Zeekr 009, built by Geely in Hangzhou Bay.

Volvo had a record of 763,389 cars sold in 2024, then fell 7% to 710,042 in 2025. China was the brand's largest market in 2025, with 149,549 cars, but sales there have been falling for three years, under pressure from Chinese brands. Volvo's answer was the XC70, a plug-in hybrid SUV with a long electric range, designed mainly for China: it came off the production line in Taizhou in August 2025 and was launched in China on September 26, 2025.

In 2026, sales kept falling (by 7.4% in June–August compared with the same period of 2025), mainly because of China and the US. In September 2026, Volvo announced 13 new models by 2030: seven for Europe and the US and six for China, the latter on a technical base developed together with Geely. The ties with Geely are getting ever closer: from 2027 Volvo will sell Lynk & Co in Europe, and from 2028 Volvo's European plants are expected to also build Geely luxury models.

What sets it apart

Platforms shared with Geely: SPA, CMA, SEA and SMA

Volvo develops its large platforms on its own, SPA, SPA2 and SPA3 (XC90, XC60, EX90, the new EX60), which the Polestar 3 also uses. For smaller cars, it works together with Geely: the CMA platform underpins the XC40, the Lynk & Co models and the Polestar 2, while Geely's SEA platform is used by the EX30 and EM90, as well as by Zeekr and the Polestar 4. The XC70 debuts the SMA platform, which the Chinese press describes as an evolution of CMA, technically related to the Lynk & Co 08.

XC70: plug-in hybrid with a long electric range

Volvo calls the XC70 a "long-range plug-in hybrid". It has a 1.5 turbo gasoline engine (120 kW), three electric motors and a dedicated three-speed hybrid transmission (DHT), through which the gasoline engine can drive the wheels directly, so technically it is a plug-in hybrid (PHEV), not a range-extender car. The battery is 21.2 kWh or 39.6 kWh, for 116 or 212 km on electricity alone, on the Chinese CLTC cycle; Volvo quotes over 1,200 km of total range. Output is 234 kW with front-wheel drive and 340 kW with all-wheel drive. CLTC figures are optimistic: in real conditions, expect less.

A Volvo made in China, for China

Volvo builds cars in China in Chengdu, Daqing and Taizhou and exports some models from there. The XC70 was developed from the start for the Chinese market: the infotainment system runs on the Antora 1000 Pro computing platform and the Cloudpeak software from ECARX, a company in the Geely group, not on the Google-services system of European Volvos, and the car's registered manufacturer in China is a Geely subsidiary. Volvo itself says the XC70 was made for China, with Chinese technology, and has to be adapted for Europe. In September 2026, Volvo announced that its future models for China will use a technical base developed together with Geely, separate from that of the models for Europe and the US.

European tariffs and production moved to Europe

Since October 2024, the European Union has applied additional duties for five years on electric cars made in China; for the Geely group the duty is 18.8%, on top of the regular 10% customs duty. The EX30, initially built only in China, has been built since 2025 also in Ghent (Belgium) and in Malaysia; Volvo says it wants to produce closer to the markets where it sells. The EU duties apply only to electric cars, so not to the XC70 plug-in hybrid.

Volvo uses letters for the body type and numbers for size. "XC" (cross country) means SUV, "S" sedan, "V" wagon (from "versatile"), and an "E" at the front marks fully electric models: EX30, EX60, EX90 (electric SUVs), ES90 (electric sedan), EM90 (electric MPV), EC40 (electric coupe-SUV). The number shows the size: 30 is the smallest, 90 the largest. The XC70 name existed before, from 2000 to 2016, on a raised wagon derived from the V70; the new 2025 XC70 is an SUV, with no technical link to the old one.

The full Volvo lineup and positioning

Volvo is a premium brand, one level below Mercedes-Benz and BMW in price and image, known for safety and Scandinavian design. In Europe it competes with Audi, BMW and Mercedes, and in China, increasingly, with Chinese premium brands such as Li Auto, Aito and Zeekr.

The Price level column shows, on a scale of 1 to 4, how expensive the model is: from budget to premium. The European rival column is a reference for size and class; it doesn't mean the cars are the same. The yellow tag marks models in our catalog.

ModelExport nameTypePowertrainPrice levelEuropean rival, for reference
EX30
on sale (built in China, Ghent and Malaysia)
EX30Compact SUVEVMini Countryman E, Smart #1
EX30 Cross CountryEX30 Cross CountryRaised compact SUVEVMini Countryman E ALL4
XC40 / EX40XC40 / EX40Compact SUVmild hybrid (XC40), EV (EX40)BMW X1 / iX1, Audi Q3
EC40EC40Compact coupe-SUVEVAudi Q4 Sportback e-tron
XC60
on sale; the best-selling Volvo
XC60Mid-size SUVmild hybrid, PHEVBMW X3, Audi Q5
XC70 in catalog
on sale in China since September 2025 (built in Taizhou); Volvo has promised Europe "later", with no date as of September 2026
—Mid-size SUVPHEVBMW X3 PHEV, Audi Q5 PHEV
EX60
unveiled in January 2026; deliveries from summer 2026
EX60Mid-size SUVEVBMW iX3, Mercedes GLC electric
V60V60Mid-size wagonmild hybrid, PHEVBMW 3 Series Touring, Audi A4 Avant
S90
built in Daqing (China); withdrawn from Europe and the US, still sold in China and other Asian markets
S90Large sedanmild hybrid, PHEVBMW 5 Series, Mercedes E-Class
XC90XC90Large SUV, 7 seatsmild hybrid, PHEVBMW X5, Audi Q7
EX90
on sale (built in the US; China-built version from 2026)
EX90Large SUV, 7 seatsEVBMW iX, Mercedes EQE SUV
ES90
on sale since 2025
ES90Large sedan/fastbackEVBMW i5, Mercedes EQE
EM90
on sale, mainly in China (built by Geely in Hangzhou Bay)
—Large luxury MPVEVMercedes V-Class / EQV

Related brands

OWNER

Geely

Geely Holding, Li Shufu's group, has owned Volvo Cars since 2010; Volvo and Geely share the CMA and SEA platforms, and the XC70, on the SMA platform, also uses technology from the Geely group.

ELECTRIC PERFORMANCE

Polestar

The electric brand born out of Volvo; Volvo owns about 20% and builds the Polestar 2 for it in China and the Polestar 3 in the US.

GEELY

Lynk & Co

A Geely brand built with Volvo technology on the CMA platform; from January 2027, Volvo distributes it in Europe.

GEELY PREMIUM

Zeekr

Geely Auto's premium electric brand, on the SEA platform; the Volvo EM90 is a version of the Zeekr 009.

The lineup changes several times a year. This list was checked in September 2026. Ask us about a specific model.

Volvo to order

We don't have any Volvo in stock right now, but we bring them to order. Here are some cars we can bring, with the final price in Moldova: shipping, customs and registration included.

Stock changes daily. As of October 5, 2026.

FAQ

Is Volvo a reliable brand?
Yes, Volvo is one of the oldest European premium brands, founded in 1927 and known for safety. Since 2010 it has belonged to China's Geely group, but engineering, design and management have largely stayed in Gothenburg. However, a growing share of its cars and components come from China. The XC70 is a new model, launched in 2025 and made for the Chinese market, so its track record is still short.
Where can a Volvo XC70 be serviced in Moldova?
Auto Outlet works with partner service centers in Chișinău that specialize in electric and hybrid cars, and provides support with spare parts. Since the XC70 is a plug-in hybrid, it also has a gasoline engine that needs regular maintenance (oil, filters). The official Volvo importer in Moldova is DAAC-Hermes (Volvo Car Moldova). We found no public information that it provides service or warranty for an XC70 brought from China, so don't rely on it without written confirmation from them.
What does "long-range plug-in hybrid" mean for the XC70?
It is a plug-in hybrid with a large battery that you charge from an outlet. With the 39.6 kWh battery, the XC70 covers up to 212 km on electricity alone on the Chinese CLTC cycle, enough for daily driving without gasoline. On long trips, the 1.5 turbo engine generates electricity or drives the wheels directly, through the three-speed hybrid transmission. Unlike a range-extender car (EREV), the gasoline engine can drive the wheels. CLTC figures are optimistic: in winter and on the highway, expect less.
How much does a Volvo cost in Moldova?
from about €38,600

Sources

See the sources (33)
  1. Volvo Cars, Wikipedia: founding in 1927, sale to Ford (1999, $6.47B) and to Geely (2010, $1.8B), Geely 78.7%, Li Shufu as chairman, the 2021 listing, the plants in China (Chengdu 2013, Daqing 2014, Luqiao), the current lineup by platform, the three-point seat belt from 1959, sale of the 30% stake in Lynk & Co to Zeekr, CEO Håkan Samuelsson since 2025.
  2. Volvo Personvagnar, Swedish Wikipedia: Stockholm listing on October 29, 2021, at SEK 53 per share, SEK 20B.
  3. Volvo XC70 (2025), Wikipedia: built in Taizhou since August 2025, SMA platform (renamed CMA), related to the Lynk & Co 08, 21.2 and 39.6 kWh batteries, 11,327 sales in China in 2025 (Yiche).
  4. Volvo EX30, Wikipedia: built in China since 2023 (Zhangjiakou, with final assembly in Chengdu), in Ghent and Malaysia since 2025, SEA platform, related to the Zeekr X and smart #1.
  5. Volvo Cars: December and 2025 sales: 710,042 cars in 2025 (-7%), China 149,549 and the largest market, Europe 332,667, XC60 230,655, XC40/EX40 166,920, XC90 103,217, plug-in hybrids in China +116%, XC70; Volvo plants and the Gothenburg and Shanghai centers.
  6. Volvo Cars: record sales in 2024: 763,389 cars in 2024, China 156,370 (-8%).
  7. Volvo Cars: record sales in 2023: 708,716 cars in 2023, China 170,091.
  8. Volvo Cars: 2022 sales: 615,121 cars in 2022 and 698,693 in 2021; China 162,322 (2022) and 171,676 (2021); component shortages and lockdowns in China.
  9. Volvo Cars: February–April 2026 sales: -10% in February–April 2026, weak Chinese market, front-wheel-drive XC70 launched in China in April 2026, EX60 delivered from summer 2026.
  10. Volvo Cars: June–August 2026 sales (in Swedish): 148,239 cars, -7.4%, decline in China and the US.
  11. Volvo Cars: its largest-ever product push, with regional offerings: 13 new models by 2030 (7 for the West, 6 for China), a technical base for China developed with Geely, September 17, 2026.
  12. Volvo Cars becomes the distributor of Lynk & Co in Europe: from January 2027, through the Volvo dealer and service network.
  13. Volvo Cars: Polestar 3 production concentrated in the US: the industrial link between Volvo and Polestar, the South Carolina plant.
  14. CarNewsChina: Volvo prepares a China-only hybrid SUV: the V446 project (the future XC70), Geely hybrid technology.
  15. Volvo Cars unveils the new XC70: Volvo's first "long-range plug-in hybrid", SMA platform, over 200 km CLTC, pre-orders in China, Europe "later", August 2025.
  16. ECARX: the Volvo XC70 infotainment system: ECARX's Antora 1000 Pro computing platform and Cloudpeak software in the XC70, August 2025.
  17. TopElectricSUV: the XC70's European launch "will take a while": Michael Fleiss (Volvo): the XC70 was made for China with Chinese technology and must be adapted for Europe; no launch date, updated May 2026.
  18. DAAC-Hermes: the Volvo service center in Chișinău: the official importer, Volvo service at 14 Dm. Cantemir Blvd., Chișinău.
  19. NewsMaker: DAAC-Hermes, cel mai bun importator Volvo din EMEA: DAAC-Hermes, the Volvo importer in Moldova, Volvo Excellence Club Award 2025 (promotional material).
  20. Freshfields: Geely sells a stake in Volvo Cars: after the November 17, 2023 placement, Geely keeps about 78.7% of Volvo Cars.
  21. ING Think: EU tariffs on electric cars from China: the 18.8% rate for Geely, including Volvo and Polestar.
  22. Volvo S90, Wikipedia: withdrawn from Europe, the US, Canada and Australia; still sold in China, South Korea and Vietnam, facelift in April 2025.
  23. CarNewsChina: the XC70 rolls off the production line: August 15, 2025, Taizhou plant, SMA platform, 120 kW 1.5T engine, three P1+P2+P4 electric motors, three-speed DHT, classified as a plug-in hybrid.
  24. CarNewsChina: the XC70 officially launched in China: launch on September 26, 2025, 21.2 and 39.6 kWh batteries, 116 and 212 km CLTC, over 1,200 km total, 234–340 kW, dimensions.
  25. CarNewsChina: the XC70 tested in China, a global model for over 70 markets: exports announced to over 70 markets, including Europe.
  26. CarNewsChina: recall of nearly 15,000 XC70s: 14,768 XC70 AWD built between May 7 and December 22, 2025, manufacturer Zhejiang Haoqing (a Geely subsidiary), left rear half-shaft.
  27. CarNewsChina: Volvo recalls over 40,000 EX30s: 40,323 EX30s, batteries from Shandong Geely Sunwoda, charging limited to 70%.
  28. CarNewsChina: the Volvo EM90, a version of the Zeekr 009: EM90 built by Geely in Hangzhou Bay, SEA platform.
  29. CarNewsChina: the EX90 and ES90 built in China: China-built versions of the EX90 and ES90, April 2026.
  30. CarNewsChina: Geely to build luxury cars at Volvo's European plants: series production planned from 2028, the Slovakia plant.
  31. CnEVPost: Geely and Volvo abandon a full merger: the merger abandoned, February 2021.
  32. European Commission: countervailing duties on electric cars from China: an 18.8% duty for Geely, for five years, from October 2024.
  33. Polestar, 2021 20-F annual report (SEC): the Luqiao plant, renamed Taizhou, bought by Volvo from Geely in December 2021.

Stock and prices are from the Auto Outlet catalog, October 5, 2026.

Model photos are official manufacturer images (Volvo).

Update history
  • 23.09.2026: first version, with data checked against public sources and prices from the catalog.

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