Ford Sells Volvo to Chinese Automaker

Volvologo
Chinese automaker Geely and Ford Motor Co. agreed to a $1.8 billion deal for the acquisition of Volvo. The Swedish carmaker’s sale marks the last foreign brand in Ford’s stable to be sold off in recent years following Aston Martin, Land Rover and Jaguar.

The Detroit News calls the deal the biggest Chinese acquisition of an overseas automaker. It will be interesting to see what Geely learns from Volvo as it looks to expand sales of its own vehicles outside of China.

While Geelys are still considered to be of lesser quality than most inexpensive cars sold in the U.S., the company’s chairman Li Shufu wanted to assuage fears that Volvo’s quality may suffer. "Throughout our negotiations with Ford and Volvo Cars management, I have emphasized the special care with which we will manage and build this asset," Li said.

Ford, Geely agree to $1.8B Volvo deal (Detroit News)
By David Thomas | March 29, 2010 | Comments (19)
Tags: Ford, Volvo

Comments 

boeingboy

Are you sure that isn't 1.8 billion, not million?

yeah sorry, was in Dr. Evil timewarp I guess. Thanks for the catch.

Mark

When the 1st Chinese Volvos roll off the line Americans should be notified as a public service address to be aware that you are buying a car from a Communist State. And is that is not enough remember that they practice very little fair trade economics. If is ever spot a Volvo made post China construction i will slap a sticker on that car, "i support Communism."

Mark, I don't think there are any plans to build them in China.

Also, there are a ton of Chinese made products on U.S. store shelves. Most Apple products, TVs, computers, sneakers etc. etc. etc.

Lenny

This is another great move by Alan Mulally. Only three years into his term at Ford and already he is producing remarkable results. GM are you listening? Probably not.

DL

Mark needs to take a look at his underwear and shoes because he might be supporting something he thinks he's against ...

Dan

It will be interesting to watch how rapidly Chinese automobiles improve with access to the methods and standards of more established car brands. If I were Hyundai, I'd watch out, you might not be the low cost/good quality competitor for long.

Tony

I have tendency to agree with Mark. Definitely - ignore commies. Ok, when it comes to TVs and other electronics, it is often impossible to find an alternative. But underwear is often maid in other countries, like Pakistan. Shoes can be from Vietnam.
Also, there is another side of the coin. USA itself is getting closer to become another European country. With new health care law, which will need to be paid for, it is not long until we will see more taxes and less actual health care. We will be ruled by widely expended government and with little money in hand will just like those Chinese. So, don't buy American also. Don't give your money to government motors.

J

I see Mark is a common redneck who had no idea what is he saying at all.
First of all, China is not a communist state, but a socialist state.
Second, look around, and let me know if your house has nothing, and I mean NOTHING, made in China.
Thanks.

Jordan Arnold

J,
China is a communist country and is run by the Communist Party of China (CPC). My God are you stupid.

J

Jordan,

The name Communist Party has nothing to do with its state.
Is the Democratic party a true democracy?
Your god, who is stupid now?!

Ben

China is a single party state run (as noted by the other poster) by the CPC. The CPC controls both the economy and society. Socialism only controls the economy through social control. If you weren't so poorly educated you'd know the difference.
Only a schmuck would assert that China is a Socialistic state. Congrats schmuck.

Idaho Guy

I just find the whole thing very sad. Sweden should own Volvo.

M5

I too find it sad that Volvo will no longer be Swede.

K

The US is also run by a bunch of ignorant moronic rednecks. The US not only controls the world's economy, but it also tries to control the world's society. Now who is the poorly educated? Congrats, schmucks.

Roger

"the world's economy..." Obviously you weren't an English major.

Tony

Stop fighting, people. The question is not how is China ran. question is , do you want it to be like that in the USA?
I think, we're going in that direction. No matter how you call it, communist party or democratic party.

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bk

I don't care where Volvo is built or who ownes it - I just want the safety and reliability to stay the same, as do most people. Nothing else matters. But yeah, it would be nice if Sweden or the US still owned Volvo. I love white people.

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