Lynk & Co Sold Out In China In Just 2 Minutes
Lynk & CO had a 3-day online sales campaign in China for the ‘01’ model in November last year. In just over 2 minutes, the stock of 6,000 vehicles was sold out. Officially the vehicle went on sale in 150 brand stores across the country on Nov. 28.
Visser said the start of sales in China was crucial to give management confidence in its current targets, which include a half million vehicles by the end of 2021, roughly a quarter coming from Europe.
Volvo owns 30% of Lynk & CO, while Geely Automobile Holdings holds 50%. The rest is with Zhejiang Haoqing Automobile Manufacturing, which is controlled by Zhejiang Geely. Lynk & CO shares the production line with the Volvo XC40 in a factory in Luqiao, which is 350 km south of Shanghai.
Lynk & CO will decide in the coming weeks whether to go ahead with plans to build the 01 crossover in Europe at the end of next year, its top executive said at an industry congress.
The 01, the brand’s first model, shares its platform with the XC40 manufactured by Volvo Cars in Ghent, meaning one option would be to locate production in Belgium. Another is simply to import it from China, where the vehicle is currently built at a plant in Luqiao.
Visser said there was a third option that included production on the European continent elsewhere. He declined to say whether this might be assembly at a contract carmaker such as Austria’s Magna Steyr or Finland’s Valmet.
Visser’s comments follows remarks by Volvo CEO Hakan Samuelsson that Volvo could build Lynk & CO cars in Belgium and may also extend its European service and logistics infrastructure to the new brand.