Zhejiang Geely Holding Group signed a binding deal Sunday to buy Ford Motor Co.'s Volvo Cars unit for $1.8 billion, representing a coup for the independent Chinese automaker which is aiming to expand in Europe.
2010-03-31 01:41:19 GMT China Daily
BEIJING, March 31 -- When Li Shufu, chairman of Zhejiang Geely Group Holding Co Ltd, celebrated the company's agreement taking over Swedish luxury brand Volvo on Tuesday, nobody could foresee the challenges and risks ahead for the Chinese automaker.
2010-03-31 00:58:54 GMT Xinhua English
BEIJING, March 30 (Xinhua) -- Chinese auto maker Zhejiang Geely Holding Group is ready to inject 900 million U.S. dollars operating capital into Volvo on top of the 1.8 billion U.S. dollars purchase price, Geely chairman Li Shufu said Tuesday.
2010-03-29 01:13:44 GMT Xinhua English
GOTEBORG, Sweden, March 28 (Xinhua) -- China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. here Sunday to acquire the U.S. auto giant's Volvo car unit.
2009-12-15 03:32:28 GMT China Daily
Beijing Automotive Industry Holdings Co Ltd (BAIC), China's fifth largest automaker, said yesterday it has agreed to take over some of the assets of General Motor's Saab arm as part of its plans to develop cars under its umbrella.
2009-11-26 04:10:11 GMT China Daily
China's BAIC, part of a group that abandoned its bid to buy General Motors' Saab unit, could still bid for some Saab assets on its own but is unlikely to try for the whole company, analysts said.
2009-10-15 07:58:00 GMT SINA.com
BEIJING, October 15 - China's commerce ministry has not yet received an application from heavy machinery maker Tengzhong for the acquisition of the iconic Hummer brand from General Motors, an official said Thursday.
2009-10-13 04:11:15 GMT China Daily
For many it's appropriate that Hummer means a horse that cannot be tamed in Chinese because they believe the bulky, gas-guzzling utility vehicle would not co-exist happily with Tengzhong's stable of other products.
2009-12-24 03:45:22 GMT SINA.com
Geely Automobile Holdings Ltd. rose in Hong Kong trading after agreeing on most terms for acquiring Ford Motor Co.’s Volvo unit, paving the way for the Chinese company to buy an established overseas brand and new technology.
2009-12-24 03:41:43 GMT SINA.com
Ford Motor Co (F.N) said on Wednesday it is nearing an agreement to sell its Volvo Swedish cars unit to China's Geely in a deal that underscores China's arrival as a major force in the global auto industry.
2009-12-24 03:30:23 GMT SINA.com
Ford Motor Co (F.N) said on Wednesday that it expected to finalize the sale of Volvo to China's Geely in the first half of 2010 in a deal that underlines China's arrival as a major force in the global auto industry.
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