The Swedish automobile manufacturer Volvo Cars has deferred its plans to build, as of the end of next year, Chinese cars of the Lynk & Co brand (subsidiary) in Ghent, Belga learned Wednesday from the company. This project has been deferred due to increasing volatility on the Chinese market and growing macroeconomic insecurity.
According to Volvo Cars, this decision will have no impact on employment in the Ghent plant.
The Lynk & Co brand was launched in 2015 by Zhejiang Geely Holding, owner of Volvo Cars.
Ghent is the location one of two Volvo Cars plants in Europe, the Ghent plant manufactures cars since 1965. The plant currently employs 6,000 workers.