Volvo S90, the world
It's Official Zhejiang Geely Holding Group Company Limited Geely or as known to you and me completed its acquisition of Volvo Car Corporation from Ford Motor Company This was done at a height of $ US 1 8 billion that was initially agreed in March of 2010.
The purchase price was made from a 200 million note with a cash balance subject to customary adjustments of the purchase price at the closing of the sale Geely have now paid the bill and US 1 3 billion in cash to complete the sale final balance figures are due to be finalized later this year.
As regards the technology and manufacturing, Ford continue to provide Volvo with powertrains, stampings and other vehicle components at different times This also includes the technical support, information technology, access to the tooling for common components, and other selected services for a transition period under intellectual property agreements are underway to govern the use of intellectual property of Volvo by Ford.
Former Volkswagen CEO Stefan Jacoby America, has been appointed the new President and CEO of Volvo Cars They will also keep their headquarters and manufacturing presence in Sweden and Belgium, while management will be authorized the independence to run their own business plans with the direction of its new board.
An exciting step for both companies, which will no doubt see the rise of Geely as a global player and the influx of Chinese investment in a top Swedish auto brand.
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I can hear the fans of Volvo desperate sigh, but put aside all prejudice, hope to make this happen Volvo finest cars in China or not, they are the giant manufacturing and have any technical ability to produce Volvo mass will remain Volvo as Jaguar is still a Jaguar while the British company being bought by the very same countries Lotus is owned by Proton and nobody's complaining ago Hey, colonizing hehehe ages or as Dislike 0 0 Reply.
I think sweden protect their own products, which probably means 50 or more of the Board must be of nationality sweden same for Jaguar, Lotus, Bentley and more investors like Tata, Geely, Proton and many others are more than financial investors to transfer technology, I think of a foreign company to another foreign company must be approved by their respective governments, which is why Lotus has not been able to transfer any technology when proton proton has 100 lotus Chinese must innovate at their own pace, put more money into R & D and laws to strengthen protection of intellectual property buying companies has never been a good solution, you nowhere love or 0 0 Reply.
automotive technology can be very high tech, but not - governments around the world do not control the transfer of vehicle technologies What they are controlled military technologies, high-end computing, bio-tech and perhaps some expertise resistance to agricultural crop diseases, etc. These are the defense and essential food supply technology to the survival of a nation during a war or as Dislike 0 0 Reply.
You have a point there mate However, in the case of Proton Lotus, I think we still short hand, the reason for Lotus is a corporate business Niche automotive engineering solutions to begin They do not even know about the production mass and their IPO in developing and designing the cars of the scale of the craft industry, which helps a lot proton but, credit to Lotus, their expertise in the treatment and reduction of weight unparalleled proton but the cost could be climbing and doesnt bode well with the proton Mitsubishi business model is a good Japanese society than others is far too expensive and proton should consider buying them may P or Dislike 0 as 0 Reply.
Lotus and Proton I who complained am He was well in recent years, where Proton mostly left alone time Lotus and just took a little of their technology, but now, for some reason reported by Autocar, Proton decided to intervene more and the first thing they did was to define a direction quite different for Lotus No lighter policy, focus on large and heavy supercars they're destroying everything that Lotus was and try to make a other Ferrari or Dislike 0 as 0 Reply.
Lotus hurt long before proton buy Another company, the name escapes me at the time, bought Lotus, this company went under Proton bought Lotus lose money again until today Lotus have done the same thing, with the same result losing money they change Do the same again, but expecting different result n is a sign of madness or as Dislike 0 0 Reply.
Lotus was the previous owner Romano Artioli who also owned Bugatti SpA now Volkswagen's property before he sold all the remaining shares in Proton Holdings back in 96 or Dislike 0 Like 0 Reply.
I own a Volvo, as the matter of fact, I plan to buy another I have full confidence in Volvs new partner or as Dislike 0 0 Reply.
Volvo Cars now owned officially by the Chinese Geely!, volvo, cars, property, Chinese.