Volvo and Geely announced today that a new research and development center is operating and has begun work on developing a new modular architecture to be shared between the companies.
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Geely aims to become China’s largest vehicle exporter this year, with as many as 180,000 units shipped overseas.
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Volvo is working on a car sized to rival the Volkswagen Golf that will come as both a hatchback and a sedan.
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Chinese company Geely Automobile Group has teamed up with reborn Detroit Electric Inc. to form a strategic partnership where both parties will co-develop pure electric vehicles for the Chinese market.
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China’s Geely was expected to finalize the sale of Fisker by mid-March, but the Chinese firm will no longer bid for a majority stake in the troubled American electric automaker.
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Earlier this year, we reported that Fisker seemed desperate seeking strategic partners in China, and now it appears that the struggling American automaker could be selling a major stake to China’s Zhejiang Geely Holding Group.
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Swedish automaker Volvo has agreed to share its vehicle technologies with parent company, Geely, which will include the automaker’s midsize vehicle platform or underpinning technology, interior air quality, and safety systems.
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It appears that Indian truck manufacturer Mahindra & Mahindra has pulled out of the race to buy Aston Martin due to the British automaker’s current financial situation.
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Volvo’s aging XC90 is becoming a hand-me-down to Chinese luxury buyers as the automaker signs it over to its parent company Geely.
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Geely will make their first foray into the notoriously tough British market in 2012, hoping to emulate the success of Korean brands like Hyundai. While Geely already helps produce the iconic London taxis, the company will face an uphill battle regarding the vehicle’s perceived quality. Their first UK offering, the EC7 compact car, will cost 10,000 GBP...
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A few years ago, a Chinese car company by the name Geely bought the Swedish luxury car brand Volvo. As part of Geely’s plan to move the Volvo brand forward, they hired famed car designer Peter Horbury to look after the design direction of this luxury car brand. Horbury, who hails from Britain, was no...
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There’s something really Chinese about the Volvo Concept You but I just can’t quite put my finger on it. And I’m actually Chinese. That there is an oriental feel shouldn’t be a surprise. The Concept You is an evolution of the Concept Universe revealed earlier this year at Auto Shanghai earlier this year. Volvo sought...
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Saab‘s days as an automaker might not yet be numbered. According to a recent report a Chinese automaker may be interested in purchasing the bankrupt automaker. “I’ve heard this one before,” you’re probably thinking to yourself. But this time it’s different…. we promise. According to Sweden’s Dagens Industry, the interested Chinese suitor is none other...
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Many people have no clue where to place Volvo. Is it a premium brand like Audi or BMW, or is it more closer to VW and Ford! The truth is, it’s been languishing in the middle for far too long, and the boss of Geely Automobiles, Li Shufu, has been wanting to take the brand...
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Volvo’s corporate overlords Geely will open a second plant in China, citing that Chinese production is a key factor in the Swedish company’s growth. The current Chinese plant is located in Daqing, an oil-rich region in northeast China that provided Geely with a majority of the $2.7 billion needed to buy Volvo from Ford. Now,...
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Chinese automaker Zhejiang Geely Holding Group spent $1.7 billion last year to acquire Volvo from Ford Motor Co.,and now plans to spend as much as $11 billion on Volvo products and facilities over the next five years. Doug Speck, CEO of Volvo Cars of North America, says a growth strategy for the United States will...
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In his first press conference as the newly appointed CEO of Volvo, Stefan Jacoby gave a vague outline of where he intends to take the company. Top on Jacoby’s list are improving Volvo’s emotional appeal and looking for ways to work with suppliers and other automakers in the industry. Jacoby joins Volvo after heading-up VW’s...
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With ownership of Volvo now having officially changed hands from Ford to Geely, the Swedish automaker will look to develop a plan for profitability and growth. And while it’s domestic rival Saab is looking down market, Volvo will reportedly head in the opposite direction, instead planning a new flagship model that would compete directly with...
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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...
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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...
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China’s Geely is planning on moving 150,000 Volvos in China by 2015, a prediction that could very well come true in the world’s largest car market. According to reports, Geely will manufacture the Volvo XC60 and S60 in China by 2011, while discontinuing production the S40 compact sedan at its Chinese factories. Geely will establish...
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Ford Motor Co. has announced it has reached a final agreement to sell its Swedish Volvo brand to China’s Geely Holding Group. The sale price is set at $1.8 billion, a fraction of the $6.5 billion Ford paid to buy Volvo back in 1999. The sale of the Volvo brand completes Ford’s corporate strategy to...
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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...
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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...
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