Archive for the ‘Geely’ Category
STOCKHOLM, – China as Asia’s largest country continues to improve automotive industry progress. Moreover, support from the government for several car manufacturers in the country was strong enough Panda. No wonder, offer direct cooperation eaten. As shown Geely Automotive, a producer from China is going to buy the Volvo Car Corporation.
Volvo is still owned by Ford Motor Company started to sink due to market slump in December 2008. For that, there is the scheme of selling shares to inject fresh funds into the company.
From the information obtained, in July 2009 and has occurred in-depth discussions between the parties Geely, Volvo, and Ford related to this issue. The announcement of the decision results from Ford’s negotiations will be announced next month. This is quoted Swedish newspaper, Dagens Industry.
“It is very important if this decision could be completed before the turn of the year, as the targets set Ford,” explained one source of these papers.
Until now, a Volvo spokesman was reluctant to comment further about it.
Earlier, in February 2009 came the news that the French manufacturer, Renault, also was negotiating with Ford to get a Volvo. Ford bought Volvo in 1999 worth 6.4 billion U.S. dollars, and now they are ready to dump the brand from Sweden that by 6 billion U.S. dollars.
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