Ford And Geely Have Found A Small Problem In The Volvo Deal

The Zhejiang Geely Holding Group Chairman, Li Shufu has said that there seems to be trouble with the Ford-Geely sale over the Volvo brand. The problem isn’t too serious, and the reports have said that there might be a “snag due to problems at Ford Motor Co.”

Regardless of this, Li Shufu says, “We’re ready to seal the deal…If the deal fails, the problem is not on our side. We have not violated any part of the agreement.”

The report says that the Volvo brand should be in Geely control by the second quarter of the 2010 year, and if this does in fact go through, the Chinese brand will have access to Volvo safety, engineering and design.