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#215 of 247 I called it again...
Oct 28, 2009 (9:41 am)
Ford picks Geely as preferred Volvo bidder
Told ya the Chinese would snap 'em up for pennies on the dollar. They got Hummer, too.
And Geely is among the very worst offenders of copyright law. A little reminder for those with short-term memories:
#216 of 247 Re: I called it again... [ateixeira]
by Stever@Edmunds HOST
Oct 28, 2009 (10:26 am)
I wonder if this round is going to be like the Japanese buying 30 Rock and all that other real estate for inflated prices years (decades?) ago, and then having to dump them at a loss when things didn't pan out.
Maybe if Ford hangs out a year, they can buy Volvo back, together with the stolen tech the Ex-Ford engineer sold to Beijing Automotive Corp.
#217 of 247 Re: I called it again... [steve_]
Oct 28, 2009 (10:47 am)
By then they would have milked whatever tech is left, and the Swedish government will have to save Volvo (they probably won't).
#218 of 247 one million Volvo vehicles globally a year
by Stever@Edmunds HOST
Nov 10, 2009 (10:35 pm)
"China's Geely Holding Group Co., selected by Ford as the lead bidder for Volvo, has developed a turnaround plan for the money-losing Swedish brand that centers on China but also sets ambitious goals for sales in Volvo's traditional markets of Europe and North America, the Wall Street Journal reports"
China's Geely Sets Ambitious Goals for Volvo (AutoObserver)
Dec 03, 2009 (7:04 pm)
as one Swedish automaker goes peacefully into that good night, another is being fought over once again:
December 3, 2009 - 1:16 am ET
(Reuters) -- A group led by former Ford Motor Co. executives has submitted a revised bid this week for Ford's Volvo unit and hopes to beat the offer by Chinese carmaker Zhejiang Geely Holding Group, the Wall Street Journal reported citing people familiar with the situation.
The group, called Crown consortium, is led by former Ford director Michael Dingman and former Ford and Chrysler LLC executive Shamel Rushwin, the newspaper said.
Let's hope that at least ONE of the Swedes makes it.
#220 of 247 Re: a new battle [nippononly]
Dec 04, 2009 (8:08 am)
I just don't see Volvo going away. They have lots of new product out and have had sales up consistently month after month. We have almost gone to a waiting list on the XC60. I have two cars to sell for the next couple of months and all the rest are ordered to spec with deposits. One of the cars I have to sell is a demo and it will go before the end of the year.
By next summer every Volvo model but one will have been completely redesigned or refreshed since 2007 The XC90 is the only one left to be resigned and that will happen in 12-18 months.
#221 of 247 Re: a new battle [british_rover]
Dec 04, 2009 (1:24 pm)
I don't think Volvo will go entirely away, no, but I wonder how it will change in the next 10 years if it becomes a subsidiary of Geely in China.
For one thing, once all Volvos for global consumption are being built in China (which seems inevitable to me in the long term if Geely succeeds in buying it), will they be as popular?
#222 of 247 so is it official then?
Dec 23, 2009 (1:53 pm)
Volvo is the newest subsidiary of Zheijang Geely Holdings of China, or at least it will be next summer:
Ford Set to Close Volvo Sale to China's Geely by June
Ford Motor Co. confirmed Wednesday details of its sale of Volvo to China's Zheijang Geely Holding Group Company Ltd. have been settled, and the deal likely will close in the second quarter of next year.
Saying more information would be revealed when the final documents are signed in the first quarter of 2010, Ford provided no details about the terms of the sale, including the price. Experts estimate the price $1.8 billion, making it the largest overseas acquisition by a Chinese automaker
That's a long name, Zheijang Geely Holding Group Company Ltd. Not so catchy when set before, say, S60. "Hello, I would like a Zheijang Geely Holding Group Company Ltd. Volvo S60, can you show me one?"(!!)
All Volvos manufactured in China for export within ten years, mark my words....
#223 of 247 Re: so is it official then? [nippononly]
Dec 23, 2009 (2:14 pm)
Killing the brand's appeal in western markets.
Maybe the cars will end up with some nifty German styling
Dec 30, 2009 (6:49 pm)
Ford lost more than $4.5 billion on the purchase of Volvo, which it fully acquired in 1999.
Geely has indicated that it wants to maintain Volvo's production in Sweden, where the labor leader on Volvo's board said he likes what he hears of the sale.
Of course, that is what they would say NOW....might be a different story once the acquisition is complete.
It's interesting the way this article is written, they almost make it seem like Volvo will be the automaker that teaches the Chinese how to be a full-fledged global automaking force.
The agreement, which Ford said it expected to sign in the first quarter and close in the second quarter, would be the largest acquisition of a Western auto brand by a Chinese company.
It comes at the end of a year that may see China overtake the United States as the world's biggest auto market, a feat that would have been unthinkable only a few years ago.
.....Chinese automakers have been short on the know-how to make quality cars, although they have been making rapid advances, and have sought the technology and intellectual property to improve their product lineups.
I guess they could have a worse teacher. It seems clear that China is going to replace North America as the center of the automaking universe within a decade or two.