Volvo to launch first new car with Geely in late 2014: CEO

Reuters

Swedish automaker Volvo Car will introduce its first all-new vehicle as a unit of China's Geely Automotive Holdings Ltd <0175.HK> in late 2014, Volvo Chief Executive Hakan Samuelsson said on Wednesday.

The new model will be a successor to the Volvo XC90 crossover vehicle, Samuelsson told Reuters on the sidelines of the New York auto show.

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Volvo is also jointly developing with Geely a new compact platform. A platform is a common underpinning that is generally used on several different vehicle models.

(Reporting by Paul Lienert in New York; Editing by Gerald E. McCormick)