Thu, August 19, 2010

Ford sells Volvo to Geely

Geely to buy Volvo from Ford for $1.8 billion

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. Full story


About Geely

Shanghai Geely International Corporation (hereafter referred to as Geely International) was founded in July, 2002.


What in your opinion is the main approach for Chinese automakers to be globally recognized?
To acquire foreign brands.
Independent R&D.


Volvo's executive confident after takeover by Geely

2010-04-01 07:17:00 GMT Xinhua English NEW YORK, March 31 (Xinhua) -- Volvo's North American CEO on Wednesday expressed confidence in the company's future after a takeover by China's Geely.

Geely could find Volvo a tough nut to crack

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.

China's Geely set to inject 900 mln USD operating capital into Volvo

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.

China's Geely buys Volvo unit for 1.8 bln U.S. dollars

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.

BAIC buys Saab assets from GM

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.

BAIC may bid for select Saab assets, analysts say

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.

Tengzhong yet to submit application for Hummer deal

2009-10-15 07:58:00 GMT 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.

Tengzhong has a bumpy road ahead to break in Hummer

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.

Geely-Volvo deal a new chapter for Chinese companies

2010-03-30 10:27:35 GMT Xinhua English BEIJING, March 30 (Xinhua) -- Chinese automaker Geely has finally married Sweden's iconic Volvo brand with a wedding gift valued at 1.8 billion U.S. dollars.

Geely Rises After Reaching Agreement to Buy Volvo

2009-12-24 03:45:22 GMT 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.

Geely nears Volvo buy, as China ascends in autos

2009-12-24 03:41:43 GMT 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.

Geely near Volvo buy, sign of China's rise in autos

2009-12-24 03:30:23 GMT 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.