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...
Continue Reading...
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...
Continue Reading...
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...
Continue Reading...
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...
Continue Reading...
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...
Continue Reading...
sidebar...
