Jacoby, 52, said that Europe, China and the Untied States will be the core markets as Volvo grows.

Answering questions about the setting up of a joint venture with Geely, Jacoby said that Volvo will not give up its pursuit for unique Scandinavian designs, high standards for "solid quality, reliability and safety."

"We would be stupid if we would give up these values."

However, China, as a fast developing country in the world, has its own different segment, the German-born former Volkswagen of America head, who joined Volvo in August, pointed out.

"We have to look into classical sedan segments which are having a predominant segment share in the UNited States but also in China. We are looking for cars in bigger sizes we have right now, we will adopt with extension of vehicle for the Chinese market as well."

He mentioned "Being Eaten By Dragon," an "interesting" article carried in a recent issue of "Economist" concerning Chinese takeovers, saying that he shares the view of Li Shufu, and both of them agreed that "it is essential that Volvo continue to be Volvo, and I'd like to state that Volvo will be even more Volvo than ever before."

Talking about Geely's takeover of Volvo, Jacoby said:" I think we have to get used to this. China is an integrated part of global economy. We produce in China, we export to China, we have to ultimately expect the Chinese investors investing their money in overseas enterprises."
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