STOCKHOLM, (Reuters) – Chinese-owned car maker Volvo Car Corporation has agreed a loan from China Development Bank to repay existing debt and hopes for more to help finance the investment it needs to double vehicle sales.

沃尔沃汽车2010年8月被吉利控股集团收购,之后从中国国家开发银行获得20亿美元贷款。

Volvo, which has scaled back production at its main plants in response to weakening demand in Europe, said on Thursday it had signed a 922 million euro ($1.2 billion) loan.

Spokesman Per-Ake Froberg said that, as a second step under the loan agreement, the firm hoped to secure credits to be used to help finance investments amounting to $11 billion, half of which will be spent on a production upgrade in Sweden.

Volvo has said it will invest $11 billion as it aims to double total sales by 2020 to 800,000 vehicles.

“We are developing an entirely new vehicle architecture that will be very important and that will of course need to be financed,” he said.

The maker of premium cars, which Zhejiang Geely Holding Group bought from Ford Motor Co in 2010, says the investment will cut costs and help sales of its cars buck the market downturn.

Recently appointed Chief Executive Hakan Samuelsson said last week he saw no positive signals in the European market while North America was “coming back” and that China was still growing, albeit at a slower pace.

The first loan matures in 2020, the company said.

Sweden’s debt office said separately that Volvo Cars had paid back a loan from the European Investment Bank ahead of time following the agreement with China Development Bank.

($1 = 0.7669 euros)

沃尔沃获得中国开发银行76亿元的贷款

Automotive News China 12月18日报道 国家开发银行已经同意向沃尔沃轿车公司提供9.22亿欧元(76亿元)的授信,帮助公司再融资目前的贷款。

沃尔沃在公告中称,贷款将于2020年到期,是沃尔沃今年初与国开行签订的借款协议的一部分。

据沃尔沃称,公司需要在今后几年偿还总计6亿欧元的贷款。

沃尔沃于2010年被民营企业浙江吉利控股集团从福特手中购并。

今年前10个月,公司在中国共实现销售35785辆,同比增长12%。

沃尔沃计划与中国母公司成立合资企业,并在中国建设两家总装厂。