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Volvo sold to Geely

Ford confirms sale of Swedish brand to Chinese giant

Volvo

23rd December 2009

IT’S official – Volvo is heading into Chinese hands. Ford has agreed to sell the Swedish manufacturer to Chinese giant Geely. In a statement, the Blue Oval said that it still had ‘some work to do to complete the deal’ but it is likely to be finalised in the Spring. 

The news at last gives Volvo security, ensuring that cars like the upcoming new S60 and an electric version of the C30 hatchback have a future. Following the sale of Land Rover, Jaguar and Aston Martin, Volvo is the last of Ford’s Premier Automotive Group (PAG) brands to go. The sale to Geely will give the Chinese firm a vital foothold in the European market.

However, while Volvo is now safe, fellow Swedish firm Saab is still waiting a last minute lifeline following General Motors' plans to wind down the company.

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3 Comments

jimmyg

The Chinese own almost all the major ports in the world , the large majority of goods bought in the west are made there as well, now they make Rovers etc and Volvo's soon . Great Britain is a dump for all the scabs of the world , America has lost the plot. Looks like we should all move to China and get a better life. Has Britain got anything left to be proud of.

By jimmyg on 29 December, 2009, 11:55pm

The final jewel in the Ford crown has gone. What a sad day for Volvo and its employees. Lets hope they keep their jobs.

By mondeo_man on 2 January, 2010, 12:14pm

Volvo sold down the Swaney

Deluded you are jimmyg. What does Britain have to be proud of? Freedom of expression, democracy, respect in the world. Guess we should thank China for its cheap slave labour to make stuff for the west. As for cars, Chinese cars are well known for their safety. And another thing, other tank chopsticks and fireworks what have you folks actually invented? If it wasnt for the West you'd not have cars or planes to move around in youd still be riding on an ox. Move to China!! Are you nuts?! You are so deluded and brainwashed, my friend.

By zippy on 3 January, 2010, 6:19pm

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