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One of the largest Chinese auto manufacturers which sells its vehicles in China and other emerging markets under four different brand names. Geely also owns the Swedish automaker Volvo, which it bought from Ford in 2010. Models to watch for: Geely Panda
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Volvo Sale To Geely Completed
Geely has officially purchased Volvo, the iconic Swedish automaker, from Ford, in a rumored $1.8 billion transaction. As part of the deal, Ford will continue to supply powertrains and other components for an unspecified amount of time, while both companies have mutually agreed to safeguard each other’s intellectual property. Stefan Jacoby, formerly head of Volkswagen…
Chinese Government Greenlights Geely-Volvo Sale
China’s Ministry of Commerce and its National Development and Reform Commission has signed off on a deal that will let Chinese carmaker Geely to purchase Volvo from Ford for $1.8 billion. “We have received all approvals required from the central government,” Ning Shuyong a spokesman from Geely, told Reuters. “We are currently working on closing…
Report: Volvo Sale to Geely Set for February 8th
According to a recent report, Ford’s sale of Volvo to Chinese automaker Geely could go through as early as February 8th. Ford and Geely have already announced they are working out details of a plan with the latest rumor indicating that the sale could be for as little as $1.6 billion, with a $1.8 billion…
Report: Ford, Geely Reach Agreement on Sale of Volvo
Ford Motor Co. and Zhejiang Geely Holding Group (Geely) have reached a general agreement on the terms of a sale that would see Ford’s loss making Volvo unit sold to the Chinese automaker. An initial agreement is set to be signed in the first quarter of 2010, with the transaction complete in Q2. Ford said…
Report: Sale of Volvo One Step Closer as Ford, Geely Reach Agreement on Intellectual Property Rights
Ford’s sale of its Swedish Volvo brand to Chinese automaker Geely has moved one step closer to completion with news that the two companies have reached an agreement on intellectual property rights issues. The agreement will see Geely take over control of all technology developed exclusively by Volvo, and still allow Volvo to use any…
Report: Volvo Bidder Geely Planning to Double Swedish Automaker’s Sales
Ford’s preferred Chinese bidder to purchase the automaker’s Swedish Volvo unit has announced a plan that would see Volvo doubt its sales in the coming years. Zhejiang Geely Holding Group, which owns and operated Chinese automaker Geely, has said it believes it could boost total sales to close to one million vehicles globally, up significantly…
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