Jeremy Lin and Volvo are set to make a major announcement on Monday at 5:00pm EST time. Volvo Cars of North America sent out invitations to the press conference announcing “a dynamic marketing partnership with Jeremy Lin, the popular New York Knicks point guard.”
Although Jeremy Lin sports Nike shoes during games and is said to be in the works to create his own show with the athletic wear company, he has yet to announce any major endorsements.
It was still unclear exactly what the value would be of the deal or what exact terms it would involve, but the invitation to the press conference noted that Mr. Lin is expected to help Volvo’s marketing efforts in several international markets. Previously, people familiar with the matter had said that the deal would cover the greater China market.
The symbolism of such a deal would be rich. Volvo is now owned by China’s Zhejiang Geely Holding Group Co. The company is trying to boost Volvo sales in China as part of a strategy to double the brand’s global sales to 800,000 vehicles by 2020. Geely plans to invest up to $11 billion in the effort.
Volvo sold about 47,000 cars in the country last year, up 54% from 2010. The press conference is scheduled to start at 5pm in New York, New York.