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Ford names China’s Geely as preferred Volvo bidder

By Matt Brogan |

Chinese manufacturer Geely Group Holdings is Fords top bidder to purchase Volvo.

Ford will begin more detailed negotiations with Geely, but final decisions have not been made.

“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,” Ford Chief Financial Officer Lewis Booth said in a statement.

Ford has said that although it no longer wants to have shares in Volvo, it would like to continue work with the manufacturer in several areas after the sale.


 
  • Captain Mainwaring

    The lack of comment on this one would seem to indicate that nobody really cares what happens to Volvo. Bit of a tragedy, that.

    • NotTheStig

      As the owner of a (very nice !) current model, I care in a few ways.

      Just scared of what it all means though…

      Trying to talk myself into the idea that a Chinese owner doesn’t mean dilution of the brand. I don’t think Geely can afford that to happen. I can’t see Volvo dropping the quality level of the Great Wall utes on sale though – surely…

      I can’t do much about it – so just wait and see I guess…

  • Hung Low

    If anything Volvo will be credited from more R&D $$$ and Geely will improve its own range from what Volvo has to offer!

  • Wheelnut

    I just read a recent report on another auto-blog site which states the sale of Volvo [to Geely] could fall apart because they are arguing over intellectual property rights – car designs and names etc.

  • AAA

    At least got someone’s buying, could get hundreds of millions or billions or it. What’s the name of the other GM subsidiary that’s got $0 now coz no one’s buying?

  • TonyB

    Early next year we’ll be replacing our 2005 XC70 and we have come down to a choice between the XC60 and Audi’s Q5. At the moment the XC60 is ahead on points – particularly with the arrival of the new twin-turbo diesel. We have discussed it, and we have both agreed that if Volvo is sold to Geely (or any other Chinese company) then we will go with the Q5. This has nothing to do with racism – the decision would be purely political. We’ve being keeping a watch on the various Volvo on-line forums and we’ve found we are not alone in our thoughts. As Wheelnut as mentioned, perhaps the one issue on which the deal could fall over on is the technology transfer issue. There’s also been some speculation that Ford’s annoucement was all about putting pressure on the other bidders who seem to be coming out the woodwork now. Here’s hoping, because we do prefer the XC60 at this point