Volvo, Geely share car plant

Two automakers will soon start producing vehicles at their joint Taizhou factory

Swedish carmaker Volvo announced on Wednesday a series of moves deepening cooperation with its Chinese parent Zhejiang Geely Holding Group Co - a tie-up that's shaping up to show that China can make a success of buying consumer brands.

The two firms will soon start producing cars at a joint assembly plant in Taizhou, Zhejiang province, Volvo said in a statement.