Linsanity spreads to Volvo

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Linsanity spreads to Volvo

Updated: 2012-03-20 08:03

By Li Fangfang (China Daily)

Linsanity is making its mark on business in the Chinese mainland.

Volvo Cars Corp, a vehicle manufacturer, is scheduled to announce on Tuesday that it has signed NBA star Jeremy Lin to an endorsement contract targeting China, the United States and Chinese-language markets in Asia.

Volvo was bought for $1.8 billion two years ago by the automobile producer Zhejiang Geely Holding Group Co Ltd.

The deal will have Lin, whose parents are from Taiwan, act as Volvo Cars Brand Ambassador during the next two years. The Asian-American will also appear in Volvo advertisements in those markets. The company declined to say what Lin is being paid for the endorsements.

"Volvo Cars' choice of Lin as the company ambassador derives from our shared ethos of passion, dynamism and progressiveness," said Freeman Shen, president of Volvo Cars China. "This is a significant moment in the history of Volvo Cars' brand rejuvenation, showcasing the new Volvo brand strategy, 'Designed Around You', with sportsmanship and intelligence."

"We believe Lin's character, intelligence, perseverance and pursuit of excellence are perfectly in tune with Volvo car owners' characteristics of appreciating smart, understated luxury with a human touch," added Richard Monturo, vice-president of Marketing, Volvo Cars.

"The Lin endorsement will duly help Volvo further enhance its brand image and business performance globally, especially in the strategically important markets of China and the United States."

In 2011, the Swedish company's car sales in China, its second home market, increased by 55 percent to reach nearly 48,000 vehicles.