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...
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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...
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Ford named Chinese automaker Geely Holding Co. as its preferred bidder for Volvo. “Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand,” said Ford Chief Financial Officer Lewis Booth in a statement....
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For several months Chinese automaker Geely has been touted as the front runner in the bid for Volvo, but now a U.S.-based group has emerged with a credible offer. Calling itself the Crown consortium, the group consists of several private equity firms and is fronted by two industry experts: Michael Dingman, a former Ford director;...
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Ford’s sale of Swedish automaker Volvo to China’s Geely Automotive may start next month. According to a report in Swedish business daily Dagens Industri, Geely is the only company to actually submit a competitive bid. In July Ford reps commented that the automaker was discussing with several potential buyers. Ford has reportedly set the a...
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After General Motors made it clear in its viability report submitted to the U.S. Treasury that the future of Saturn was uncertain at best, it appears as though Saturn’s network of dealers has its own plan. Dan Januska, owner of Saturn of Scottsdale, told the Wall Street Journal that the dealers have been in talks...
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