REVscene Automotive Forum - Geely to buy Volvo?!?

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Geely to buy Volvo?!?

hopefully it's not true?

http://www.worldcarfans.com/10906192...-volvo--report

Quote:

Has Volvo found a Chinese suitor? That is the story currently breaking. According to a few media reports, most of them coming from China itself, Ford has reached an agreement with Geely of China to sell Volvo Cars to that company.

Reports, which cite a Chinese government source, say Geely plans to start production of a new Volvo car in China's Guangzhou Province after introducing the XC90 SUV to the country. They go on to say Geely is prepared to invest up to US$10 billion in Volvo's global operations.

But Volvo denies that such an announcement exists. "An announcement related to the sale of Volvo Car Corp. would only come from Ford Motor Company," it said in a statement. "As of today, neither Ford Motor Company nor Volvo Car Corporation in Sweden has made any announcement regarding the sale of Volvo. Reports of such a sale by any media outlet are speculative and, therefore, are not accurate."

I hope not. Volvo is known for its safety.

God almighty will know what will happen if Geely buys it......

more current report here:

http://www.autoevolution.com/news/fo...lvo-12547.html

Quote:

After months of rumors, Ford has just confirmed that Geely is its preferred bidder for Volvo Cars, meaning that the Chinese company is now in pole-position to take over the Swedish unit. Details of the dealer are yet to be disclosed but Ford claims negotiations continue and more information might surface soon.

“Ford’s objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties,” said Lewis Booth, Ford Motor Company executive vice president and chief financial officer. “Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core ONE Ford strategy."

“Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. But there is much work that needs to be completed in the more substantive discussions that are agreed to take place. We have no specific timeline to conclude the discussions.”

Ford however revealed that in case Geely manages to complete the takeover, the US-based manufacturer won't retain a shareholding in Volvo even if it still plans to collaborate with the Swedish carmaker on a number of projects.

“Ford fully understands the iconic Swedish nature of the Volvo brand and the responsibility we have as Volvo’s custodian to its employees, local communities and other key stakeholders," John Fleming, chairman of Ford of Europe and Volvo Cars, said. “Any sale also would need to take into account the significant connections between Ford and Volvo in terms of continuing component supply, engineering and manufacturing.”

“Volvo’s management team welcomes today’s announcement as a positive step forward,” Volvo CEO Stephen Odell said. “At Volvo, we are continuing to keep our attention firmly fixed on engineering and building great Volvo cars, to reduce our cost base and to return the business to sustainable profitability at the earliest possible opportunity.”

its bound to happen. most western country cannot compete with the lower cost of labour and thus bigger profit

I guess they wont be safe anymore.... damn

shit, volvo is so fucked

Old news.

Volvos have been meh since Ford took over, and now they'll have a giant "DESIGNED IN SWEDEN, MADE IN CHINA" sign under the hood where mine says "Made in Sweden." :(

Bad news for the brand, great news and massive reverse-engineering fodder for the Uncleland. -_-

Hey, you shouldn't complain. At least now you can say you're sorta related to Volvo. :lol

but if it wasn't for ford the Volvo c30 wont be so awesome!

it's almost like a euro focus st!

Quote:

Originally Posted by aznboi128 (Post 6682839)

but if it wasn't for ford the Volvo c30 wont be so awesome!

it's almost like a euro focus st!

Wrong. Other way around. The Euro Focus ST is just a mishmash of Volvo parts with some wicked Euro Ford engineering.

Quote:

Originally Posted by +Kardboard+ (Post 6682847)

Wrong. Other way around. The Euro Focus ST is just a mishmash of Volvo parts with some wicked Euro Ford engineering.

well you know what i mean.... :P