Cars
A second Chinese firm has been added to the list of potential bidders for FoMoCo's Volvo division. Aside from Geely Automobiles Holdings, the Wall Street Journal reported on Wednesday in its online edition that the Chinese government-owned Beijing Automotive Industry Holding Corp (BAIC) is also interested in the Swedish automaker. Citing sources familiar with the discussions, the newspaper said a delegation from Beijing Auto is expected to visit Volvo's headquarters in Gothenburg, Sweden as early as Thursday to meet with the firm's executives and tour its factory.
- China's Geely, Owner Of Volvo, Denies Interest In Buying Saab
Saab is in a crisis indeed. One day it is rescued, and the next it is on the brink of destruction. And this has been happening over and over again, like an automotive version of The Groundhog Day. Yesterday we reported that Saab has not yet received...
- China's Geely Completes Takeover Of Volvo From Ford
Chinese carmaker Zhejiang Geely Holding Group Co. (simply known as Geely) completed the purchase of Volvo Cars from Ford Motor Co. on Monday. According to Ford, Geely paid $1.3 billion in cash today and issued a $200 million note for the acquisition...
- Geely Chairman Promises To Liberate Volvo From Its Capitalist Owner / Oppressors
Zhejiang Geely Holding Group Chairman Li Shufu recently had this to say about Volvo and its $1.8 billion purchase from Ford Motor Company: "A tiger belongs to the forest. It belongs to the wild world and not confined in a zoo. We need to liberate...
- Ford Confirms Deal With China's Geely On Volvo Sale
While General Motors is still trying to figure out what it's going to do with its Saab division, Ford Motor Company announced today that it has settled all substantive commercial terms with China's Geely Holding Group Company Limited on the prospected...
- China's Baic Buys Equipment For Old 9-5 From Saab, According To Swedish Newspaper
Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny...
Cars
China's Beijing Auto also Interested in Buying Volvo
A second Chinese firm has been added to the list of potential bidders for FoMoCo's Volvo division. Aside from Geely Automobiles Holdings, the Wall Street Journal reported on Wednesday in its online edition that the Chinese government-owned Beijing Automotive Industry Holding Corp (BAIC) is also interested in the Swedish automaker. Citing sources familiar with the discussions, the newspaper said a delegation from Beijing Auto is expected to visit Volvo's headquarters in Gothenburg, Sweden as early as Thursday to meet with the firm's executives and tour its factory.The report goes on to say that Ford has narrowed the potential buyers for Volvo to three or four interested parties. The American automaker paid 50 billion Swedish Kronas or $6.45 billion US to acquire Volvo's car operations in 1999, but now most analysts expect that Ford will sell the Swedish company for far less than $3 billion US.
Via: WSJ
- China's Geely, Owner Of Volvo, Denies Interest In Buying Saab
Saab is in a crisis indeed. One day it is rescued, and the next it is on the brink of destruction. And this has been happening over and over again, like an automotive version of The Groundhog Day. Yesterday we reported that Saab has not yet received...
- China's Geely Completes Takeover Of Volvo From Ford
Chinese carmaker Zhejiang Geely Holding Group Co. (simply known as Geely) completed the purchase of Volvo Cars from Ford Motor Co. on Monday. According to Ford, Geely paid $1.3 billion in cash today and issued a $200 million note for the acquisition...
- Geely Chairman Promises To Liberate Volvo From Its Capitalist Owner / Oppressors
Zhejiang Geely Holding Group Chairman Li Shufu recently had this to say about Volvo and its $1.8 billion purchase from Ford Motor Company: "A tiger belongs to the forest. It belongs to the wild world and not confined in a zoo. We need to liberate...
- Ford Confirms Deal With China's Geely On Volvo Sale
While General Motors is still trying to figure out what it's going to do with its Saab division, Ford Motor Company announced today that it has settled all substantive commercial terms with China's Geely Holding Group Company Limited on the prospected...
- China's Baic Buys Equipment For Old 9-5 From Saab, According To Swedish Newspaper
Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny...