Geely to buy Volvo?

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Diego440

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Chinese automaker Geely has signed a letter of intent to purchase Volvo from Ford, a Chinese news site reported. The report cites anonymous sources in the Chinese government and no official word has come from Volvo, Geely or Ford, nor has it been corroborated by other sources, lending doubt to its accuracy.

According to the report, Ford and Geely are still working out many details of the agreement, including the transfer of technology, Volvo's marketing and market position and any layoffs that will stem from the sale. Volvo will reportedly move a production line to the Chinese city of Dongguan in the Guangdong Province. The report indicates that Geely has already gotten the OK from the city and has applied for land and a loan to build a new factory on, though big business deals in China require the approval of the federal government. No purchase price was reported.

More here:

http://wot.motortrend.com/6550590/i...s-agreement-to-buy-volvo-from-ford/index.html
 
Hope Volvo fair better than MG Rover did under Chinese ownership,

Yet strangely enough I suspect it will end up just as much of a disgrace...
Hope for their sakes it falls through!
 
Maybe it's not true since nobody from Ford, Volvo or Geely has confirmed it.
 
Cheap Volvos? Yes please.

And if they're built poorly, noone will buy them. Which appears to already be happening.

I take this as possibly good news, though it repeals any remote possibility of a Focus-based ST or RS C30 model.
 
What cars do they make in New Hampshire?


Also, this would be a good experiment, one company that has one of the best crash test ratings mixed with one of the worst.
 
Guys, the company is dubiously rumored to own a company. You make it seem as if that means they will automatically transfer every existing component to the Volvo lineup and everything Volvo will sell from now on will be made by 9 year old Chinese girls.

You know, companies can just own other companies. It happens far more than you think.
 
Tata bought Land Rover and Jaguar, and neither of those have collapsed. I think an argument could be made that Rowe (formerly Rover) is a better company after the Chinese bought-in.

Really, its all about having money. If Ford isn't willing to pay for Volvo anymore, are they any better off there?
 
I'd prefer any company to not be bought by another with a stupid name, but I'd have to see.
 
SagarisGTB
I wonder if Volvo is interested in re-acquiring Volvo. Why did Volvo sell Volvo in the first place?
Click to expand...

Not interested. Check the Corporate History with Ford in the Volvo Cars section on Wikipedia. It is missing referencing for deeper info, but it gives a good idea of what is going on with the company.
 
NOOOO-1.jpg
 
YSSMAN
Tata bought Land Rover and Jaguar, and neither of those have collapsed. I think an argument could be made that Rowe (formerly Rover) is a better company after the Chinese bought-in.

Really, its all about having money. If Ford isn't willing to pay for Volvo anymore, are they any better off there?
Click to expand...

Exactly, Jaguar has been doing ok out of the buy out. Volvo might be a good idea for chinese manufacturers to own to help build up the safety of their models.

As for Rover there is still the prospect of brand new Roewe and MG models coming over here which is certianly better than 20 year old chassis'
 
EA11R
I take this as possibly good news, though it repeals any remote possibility of a Focus-based ST or RS C30 model.
Click to expand...

I find that quite funny seeing that the engine of the Focus RS is the good old Volvo T-5 with Ford tweaks... the RS is basically a C30 T-5R in disguise, not the other way round.

However, even as a bloody Volvo driver myself I don't really care all that much. The production of "real" Volvos came to an end when the last S60 MkI rolled off the production lines and the spirit of them was lost even earlier, in the beginning of the 21st century when the S/V90 didn't get a proper successor and the V70 MkI was phased out.
 
The article has since been updated to include:

Volvo has responded to the report with the following statement:

"An announcement related to the sale of Volvo Car Corp. would only come from Ford Motor Company. As of today, neither Ford Motor Company nor Volvo Car Corporation in Sweden has made any announcement regarding the sale of Volvo. Reports of such a sale by any media outlet are speculative and, therefore, are not accurate."
Click to expand...
 

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