Chinese car maker's deal to buy Volvo from Ford imminent
1 February 2010

Chinese car maker Geely will run Volvo as a separate entity to protect its luxury image, according to a report in the Financial Times.

Geely is set to conclude its $2 billion (£1.25bn) deal to buy Volvo before China's lunar new year holiday begins on February 14.

"We want to be careful not to damage the Volvo brand," said Freeman Shen, Geely's vice president for international operations. "We don't want the image of a luxury car made in a third world country. We want the image of a European luxury car, albeit owned by a Chinese owner."

Responding to suggestions that Geely would struggle to turn around Volvo's fortunes, Shen responded: "Geely is not fettered by 100 years of automotive history and our chief is more flexible, willing to try new ideas and learn from other countries and companies, and will provide better motivation to Volvo's management."

He added that getting Volvo production up and running in China will be key to turning around the company's fortunes. At least 10 provincial and municipal Chinese governments are wooing Geely with incentives to build a plant in their area.

However, Shen ruled out moving Volvo's main production base or research and development operations to China.

Twitter - follow autocar.co.ukSee all the latest Volvo reviews, news and video

Join the debate

Comments
7

1 February 2010

Good news, I think. I was worried Volvo would fold, where then to go for a decent family car for the middle classes. R&D and marketing jobs stay in Europe along with maintaining the brand identity. Get the cars made in a location where production costs are a lot less and have access to the massively expanding chinese market. I bet the challenge will be to make more models and maintain quality.

1 February 2010

Geely already has a rock-solid image as a luxury car maker - - Volvo lovers can relax ...

Geely's luxury model

1 February 2010

[quote 38carssofar]

Geely already has a rock-solid image as a luxury car maker - - Volvo lovers can relax ...

Geely's luxury model

[/quote] Awesome, do they make an estate version?

1 February 2010

[quote PhilM4000]do they make an estate version?[/quote]

No, but Chrsyler do, badged up as 300C.

Something a bit "Poundland" about that car...

1 February 2010

[quote justi]

No, but Chrsyler do, badged up as 300C.

Something a bit "Poundland" about that car...

[/quote] The 300c has some of the finest materials i have ever seen in a car! i especially like the bits of interior trim that just fall off in your hand lol yes i was really dissapointed when i saw one in a chrysler showroom they also have nice big seats which you slide in when cornering for fat mcdonalds lovers (i've yet to figure out why anyone would buy one)! getting back to Geely looks just as bad i hope Volvos stay good looking well made machines under there control but indeed the above is good news

1 February 2010

Weirdly, I prefer the headlights on that to anything the real Rolls-Royce offers right now...

1 February 2010

'Shen ruled out moving Volvo's main production base or research and development operations to China.' In 2010 anyway.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Kia Stonic
    First Drive
    18 October 2017
    Handsome entrant into the bulging small crossover market has a strong engine and agile handling, but isn’t as comfortable or complete as rivals
  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer