| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
 | | 
12-23-2009, 03:37 AM
|
#1 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
Posts: 2,629
Thanked 273 Times in 90 Posts
| Volvo is now Chinese
From now on, Volvo is now no longer a Swedish/American automaker but a Chinese one. How times have changed.. http://news.bbc.co.uk/2/hi/business/8428066.stm Quote:
Ford agrees Volvo sale to Geely
Volvo has been for sale for months
Ford has agreed the terms of the sale of its Swedish business, Volvo Cars, to China's Geely.
In a statement Ford said "while some work still remains to be completed...[they] anticipate a definitive sale agreement in the first quarter".
Ford put Volvo up for sale a year ago to help pay off its debt and make its business more focused.
Geely was named preferred bidder in November. If completed, it will be the largest purchase by a Chinese car firm.
Ford said that while the "substantive commercial terms" had been settled, financing still needed to be completed and government approval was also necessary.
It is thought that this update on the sale will help Geely secure the financial backing it needs.
No details were given of how much the deal is worth, but it is widely rumoured that Geely will pay Ford $2bn (£1.2bn; 1.4bn euros), less than a third of the $6.45bn Ford paid for Volvo in 1999.
Ford said it expects to continue co-operating with Volvo Cars, but did not intend to retain a shareholding in the business after the sale.
Benefits for all
Industry observers say the sale is good news for Volvo.
"In theory, the Chinese market could be an opportunity for Volvo," Nomura's auto specialist Michael Tyndall said.
"It's a well-known brand, has a good heritage and a range of products that should appeal to the Chinese consumer."
Equally, the deal should help Geely get into the Western market.
It is thought that the main sticking point in the talks between Ford and Geely had been disagreement about how to deal with intellectual property rights - setting the parameters of Geely's use of Volvo's technology, such as its famous safety equipment, and the extent and cost of using any technology needed from Ford's research.
Moving to China
Professor David Bailey from the Coventry Business School said that he expects much of the Volvo production to be moved to China, which recently overtook the US to become the world's largest market for cars.
"I would expect development and research to remain in Sweden, and maybe some production, but the big scale production will probably come from China," he said.
"In the long run the question is whether they can continue to develop Volvo's safety profile and advanced engineering technology" he added.
Geely said that Volvo would continue to lead the trend of world auto technology in safety and environmental protection.
"It will quickly increase its unique competitive status in the Chinese market," the firm added.
VOLVO
First Volvo made in 1927
Bought by Ford in 1999
Employs 20,000 worldwide
In 2008 sales fell 18.3% to 374,297
GEELY
Founded in 1986
Started as refrigerator parts supplier
Employs 12,000
Production capacity of 300,000 cars a year
|
Last edited by slammer111; 12-23-2009 at 05:45 AM.
| 
|  | |
12-23-2009, 04:41 AM
|
#2 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
Posts: 25,650
Thanked 10,381 Times in 3,907 Posts
|
GEELY?!!
$2 billion rumored sale price??!! What a STEAL!!
Now... will Volvo up GEELY's quality to at least a standard level or will Geely drag Volvo down to sub-standard :/
| |
| | |
12-23-2009, 08:24 AM
|
#3 | | ninja edits your posts without your knowledge
Join Date: Jan 2004 Location: Vancouver
Posts: 14,957
Thanked 6,310 Times in 1,777 Posts
| Quote:
Originally Posted by StylinRed  GEELY?!!
$2 billion rumored sale price??!! What a STEAL!!
Now... will Volvo up GEELY's quality to at least a standard level or will Geely drag Volvo down to sub-standard :/ | Hoping for the former but most likely the latter.
| |
| | |
12-23-2009, 08:25 AM
|
#4 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Sep 2008 Location: Vancouver
Posts: 8,858
Thanked 2,420 Times in 669 Posts
|
GG
__________________
2014 Honda Civic Si | |
| | |
12-23-2009, 08:57 AM
|
#5 | | I answer every Emotion with an emoticon
Join Date: Apr 2005 Location: Vancouver
Posts: 7,760
Thanked 375 Times in 181 Posts
|
lol, I'm sure Geely will benefit from Volvo technologies. Old schooler may still "presume" Volvos are the safest car in the wrold
__________________
Ignorance is bliss
How I wish I can remain ignorant, why do I know so much?
| |
| | |
12-23-2009, 09:09 AM
|
#6 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,501
Thanked 1,726 Times in 546 Posts
|
GEE GEEE GEEE ly
| |
| | |
12-23-2009, 09:21 AM
|
#7 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
Thanked 507 Times in 188 Posts
| Quote:
Originally Posted by StylinRed GEELY?!!
$2 billion rumored sale price??!! What a STEAL!!
Now... will Volvo up GEELY's quality to at least a standard level or will Geely drag Volvo down to sub-standard :/ | considering ford paid 6.5 bill, yea, 2 bill is a steal.
however, i don't know what's left at volvo's in house development offices that ford hasn't already pilfered for itself. (both in patents and personnel)
it might not be a good deal if there's nothing left of value at volvo..
| |
| | |
12-23-2009, 09:24 AM
|
#8 | | Ubereem Mod
Join Date: Mar 2002 Location: Richmond
Posts: 3,070
Thanked 120 Times in 63 Posts
|
will geely now survive a crash now?
Smeone post those videos up with the build job of geely.
__________________ Quote:
Originally Posted by Culture_Vulture sometimes I like to use kindergarten art class scissors to cut my pubes | | |
| | |
12-23-2009, 10:11 AM
|
#9 | | Revscene.net has a homepage?!
Join Date: Jun 2004 Location: Vancouver
Posts: 1,206
Thanked 188 Times in 83 Posts
|
so what do you get with a Geely and a Volvo?
A: an icebox
| |
| | |
12-23-2009, 10:22 AM
|
#10 | | I *heart* Revscene.net very Muchie
Join Date: Dec 2007 Location: Shanghai
Posts: 3,561
Thanked 888 Times in 350 Posts
|
fuk i knew i shoulda bougt into geely
__________________
yolo | |
| | |
12-23-2009, 11:32 AM
|
#11 | | Marcosexual Fan Club, CEO
Join Date: Jun 2005 Location: US Bush-country
Posts: 7,741
Thanked 823 Times in 284 Posts
|
Big mistake for Ford. Geely just got all of the IP to build cars that can pass crash tests in N.America/Europe thus allowing them entry into this market. Good luck competing with a Chinese automaker, Ford!
__________________
Poor is the man whose pleasures depend on the permission of another.
| |
| | |
12-23-2009, 11:49 AM
|
#12 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
Posts: 2,629
Thanked 273 Times in 90 Posts
|
^ Nothing wrong with a little competition if you ask me. Maybe Ford was desperate to unload a money-losing division, but in any case I don't think Geely will be a threat for at least a decade.  And don't forget the millions of American rednecks who will still buy domestics (especially pickup trucks) only.
Chinese automakers have a HUGE uphill battle ahead of them. Think of them now as crappier versions of Kia and Hyundai in the 80s.  | |
| | |
12-23-2009, 12:12 PM
|
#13 | | Banned (BBM)
Join Date: Jul 2004 Location: Vancouver
Posts: 16,142
Thanked 627 Times in 368 Posts
|
time to stop buying
| |
| | |
12-23-2009, 01:01 PM
|
#14 | | Unofficial Tin Foil Hat Specialist.
Join Date: May 2008 Location: Vancouver
Posts: 8,150
Thanked 1,529 Times in 604 Posts
|
This is a good move for Geely. Volvo has a lot of patents to many safety features. This should help, if not boost Geely's image in the near future. I wouldn't be surprised if Geely made a fantastic car within a decade.
| |
| | |
12-23-2009, 01:12 PM
|
#15 | | "They call me Bowser...RawR!"
Join Date: Jul 2001 Location: Vancouver
Posts: 8,204
Thanked 897 Times in 360 Posts
|
It took Japanese cars about 40 years to get to where they are today. I expect the Chinese to do the same in at least half the time. In the late 60's and 70's, Japanese cars were considered junk and people thought they wouldn't catch on. It wasn't until the fuel crisis that people gave them a chance.
__________________
"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
| |
| | |
12-23-2009, 01:20 PM
|
#16 | | Unofficial Tin Foil Hat Specialist.
Join Date: May 2008 Location: Vancouver
Posts: 8,150
Thanked 1,529 Times in 604 Posts
|
^ It's getting faster and faster. I would assume within a decade.
| |
| | |
12-23-2009, 01:46 PM
|
#17 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Mar 2002 Location: ...
Posts: 20,300
Thanked 4,525 Times in 1,357 Posts
| Quote:
Originally Posted by !LittleDragon It took Japanese cars about 40 years to get to where they are today. I expect the Chinese to do the same in at least half the time. In the late 60's and 70's, Japanese cars were considered junk and people thought they wouldn't catch on. It wasn't until the fuel crisis that people gave them a chance. | I don't know about that...as far as I know, none of Chinese car manufactures participate in car races.
F1, LeMans 24, Daytona, CART, NASCAR, WRC, nothing..
I wonder if they truly have passion with cars or just interested in making money.
| |
| | |
12-23-2009, 02:03 PM
|
#18 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Mar 2004 Location: Richmond
Posts: 8,645
Thanked 1,357 Times in 508 Posts
|
Last I heard all Japanese car makers are starting to pull out of international auto racing.
Auto racing doesn't make any money or create positive image in today's society where tree huggers set the rules.
__________________ ⇐ If I bothered replying, that's the face I made while I typed.
- 2017 Alfa Romeo Giula Q4
- 1999 Nissan Stagea 260RS 1 of 748
- 1998 Nissan Laurel Medallion Club S drift boi
- 1991 Lexus LS400 mint boi
- 1989 Nissan S-Cargo cute boi
| |
| | |
12-23-2009, 02:04 PM
|
#19 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2006 Location: Vancouver
Posts: 12,074
Thanked 3,186 Times in 929 Posts
|
oh no..
| |
| | |
12-23-2009, 07:07 PM
|
#20 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
Thanked 507 Times in 188 Posts
| Quote:
Originally Posted by Marco911 Big mistake for Ford. Geely just got all of the IP to build cars that can pass crash tests in N.America/Europe thus allowing them entry into this market. Good luck competing with a Chinese automaker, Ford! | there is more to it than just passing crash tests.
also, we have no idea what the terms of the agreement are, and what's actually left of volvo beyond the physical factories and labourers. Who know what patents and technologies remain with Volvo for Geely to use.. and how dated they may be.
| |
| | |
12-23-2009, 07:24 PM
|
#21 | | I subscribe to the Fight Club ONLY
Join Date: Feb 2002 Location: Coquitlam
Posts: 7,091
Thanked 2,112 Times in 264 Posts
|
Will a Volvo still be considered a safe car?
| |
| | |
12-23-2009, 07:36 PM
|
#22 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,438
Thanked 14,322 Times in 5,640 Posts
| Quote:
Originally Posted by Marco911 Big mistake for Ford. Geely just got all of the IP to build cars that can pass crash tests in N.America/Europe thus allowing them entry into this market. Good luck competing with a Chinese automaker, Ford! | yea, these chinese companies who aquire n/a automakers are getting a HUGE boost, like you said you buy them and you have the technology/know how to make better cars automatically
__________________
Dank memes cant melt steel beams
| |
| | |
12-23-2009, 07:51 PM
|
#23 | | Certified Troll: Access Removed
Join Date: Nov 2009 Location: Richmond
Posts: 117
Thanked 52 Times in 17 Posts
|
lol i go tell my friend about this
he owns 2 volvos
| |
| | |
12-23-2009, 08:19 PM
|
#24 | | Certified Troll: Access Removed
Join Date: Nov 2009 Location: Richmond
Posts: 117
Thanked 52 Times in 17 Posts
|
first it was Hummer, now Volvo, what's next?
| |
| | |
12-23-2009, 08:40 PM
|
#25 | | Wunder? Wonder?? Wander???
Join Date: Apr 2004 Location: vancouver
Posts: 209
Thanked 120 Times in 16 Posts
|
GM joins China, now China buys Volvo? Now all they need is alberta's oil sands and China will rule the world...HaHaHaHa!!
| |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 02:56 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
