October 28, 2009

Ford Picks Geely for Volvo Acquisition

Ford and Geely (Zhejiang Geely Holding Group) are jointly announcing that they are in direct talks for Geely to acquire Volvo. According to Ford a final decision has not been made but the two are in "detailed and focused negotiations" while Geely says it is Ford's "preferred bidder" for the famed Swedish automaker. If the deal moves forward Volvo will keep an independent management based in Sweden and be tied into Geely's supply chain and sales networks. Ultimately Geely may use the Volvo brand to become a potentially powerful exporter of automobiles....

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