Geely of China is expanding into Europe, according to CEO Hakan Samuelsson of Volvo Cars, and Volvo will be its strong premium brand. We can learn from the Chinese, he told Handelsblatt, and we need to be open to their innovations. "In this industry," he said "you have to value the competition." Samuelsson's successor by Oct. 1 of next year will be outgoing Chair Klaus Zellmer of Škoda Auto. He's leaving a company that has played a historic role in turning Chinese car manufacturers into such valued competitors. Škoda not only participated in the decades-long transfer of technology to China, but it also helped to mask the gradual financial drain on Volkswagen caused in part by that handover of know how. Škoda's low costs have made it a star in the VW group, but Samuelsson said that the move to the East of European carmakers reminds him of the way American brands shifted production to the Southern U.S. states. Look what happened to Detroit, he said. And now Zellmer is joining Chinese-owned Volvo, whose parent has overtaken VW in China and will consider its chief rival in Europe to be BYD.
