Volvo seeking a partner for U.S. production

Volvo CEO Stefan Jacoby has revealed the company is looking for a partner to build vehicles in North America.

Speaking with Bloomberg, Jacoby said "In the medium term, five to six years, we need to find a proper solution in North America. Building a plant ourselves is maybe more unlikely. I'm looking for a partner that could help us utilize a North American plant."

The executive declined to go into specifics, but said the company is already taking to a couple of automakers. Interestingly, Jacoby mentioned Fiat as a possible candidate and jokingly commented "If you speak to [Fiat CEO Sergio] Marchionne, just tell him to call me."