China’s Volvo owner boosts profit on Chinese boom

The Chinese owner of Volvo Car said full-year profit at its local car making unit probably doubled, topping analysts’ estimates and allowing billionaire founder Li Shufu to turn his focus to another major acquisition in Sweden.

The Chinese owner of Volvo Car said full-year profit at its local car making unit probably doubled, topping analysts’ estimates and allowing billionaire founder Li Shufu to turn his focus to another major acquisition in Sweden.