Volvois looking for a partner who can help it build vehicles in North America. 

"In the medium, terms, five to six years, we need to find a proper solution in North America," Chief Executive Officer of Volvo, Stefan Jacoby said. "Building a plant ourselves is may be more unlikely. I'm looking for a partner that could help us utilize a North American plant."

The Swedish automaker is owned by Chinese manufacturer Zhejiang Geely Holding Group.

Addressing the media at an auto news press conference in Monaco, Jacoby said, "cooperation would ideally be with any carmaker that Volvo agrees to work with on sharing development costs on smaller cars."

The Gothenburg, Sweden-based carmaker is talking to a "couple' manufacturers," though they decline to name the potential partner and details.

"The construction of the plants in China, which is still awaiting final government approvals, is 'on track,'" Jacoby said. "The first factory, in Chengdu, is set to start producing cars in the second half of 2013."

Volvo, which was bought by Zhejiang Geely from Ford Motors in Aug. of 2010 for $1.8 billion, has a target of doubling its sales to 800,000 cars which also includes the Sports Utility Vehicles (SUVs) by 2020 from 449,255 delivers in 2011. Reports say the company has plans to invest about $11 billion over the next several years.

"Volvo is open to everybody as a partner, including Fiat. The Turin, Italy based carmaker is already active in the U.S. through the takeover of Chrysler Group LLC that's part of Fiat Chief Executive officer Sergio Marchionne's growth strategy," Jacoby said. "Fiat is obviously one of the alternatives. If you speak to Marchionne, just tell him to call me." 

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