In a bid to maximize their yearly profits, the Chief Executive of Volvo, Stefan Jacoby, stated that the company expects to sell nearly 200,000 cars in China by the year 2015.

For this, an estimated investment of whopping $11 billion is expected to be made by the company bosses. It is learnt that the company sold nearly 30,500 cars last year alone in China.

Volvo Cars was overtaken by Zhejiang Geely Holding Group Co. in 2010.

Meanwhile, Volvo is also seeking approval of Government in favor of a proposal of car manufacturing in China, to be exported to other parts of the world.

While disclosing the company’s 10-year growth plan, Jacoby said during a recent media briefing that, “It is obvious that at some point manufacturers will export from China. We, as a global premium brand with European heritage, have a very good opportunity to be owned by a Chinese enterprise and to utilize our manufacturing capacities here”.

Jacoby also confirmed for a plan, which is seriously under consideration, for a manufacturing plant in the northeastern city of Daqing, Heilongjiang province.

Market analysts speculated that Volvo can earn moolah as it has targeted a country like China for its growth, which is the largest potential automobile market in the world and second largest economy but it would be interesting to see whether Volvo would be able to avoid any discounts in its brand’s premium value.