Zhejiang Geely Holding Group Co. has finally finalized their purchase of Volvo Cars from Ford. The $1.8bn dollar deal was completed when Geely paid Ford $1.3 billion in cash and issued a promissory note for an additional $200 million. The remainder of the amount will be paid later in the year. With the change in ownership, Stefan Jacoby — ex-head of VW...

Geely Automobile has released their new GE limousine. Yes, the model has a striking resemblance to the Rolls-Royce Phantom, we know. The executive limousine is now 5.29 meters long, and it feels slightly more Chinese this time round, compared to previous models. There will be a new two-seat rear bench this time round. More details when the Geely GE is released at the Beijing...

Geely has officially agreed to purchase Volvo for a price of $1.8 billion, which is far below the price of $6.45 billion which Ford paid during 1999. The deal was signed yesterday in Sweden, and it’s expected that the agreement will only be finalized during October as Geely needs to receive regulatory approval from various countries. The bid from Geely sees the...

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...

Ford has announced that they have settled commercial terms with China’s Geely Holding Group Company Limited for the Volvo brand. Ford said that some work still needs to be done, however this should be finalized by about Q1 of 2010. “The prospective sale would ensure Volvo has the resources, including the capital investment, necessary to further strengthen the...

Geely has been announced as the preferred bidder for the Volvo brand. The official announcement from Ford has now boosted the shares of the Chinese brand by about 4.5 percent. This increase has given the company it’s highest value ever since the first listing in 2004. How Geely will obtain the brand, and handle it’s project we do not know. “I...

Ford has confirmed that Geely will be the preferred bidder for the Volvo brand. This means that the Chinese company will most likely be the company which takes the Volvo brand from Ford. “Ford’s objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties,” said Lewis Booth, Ford Motor Company executive...

A top newspaper in the US has announced that a new company has entered the race for Ford’s Volvo brand. Recently Geely, from China, was the only automaker really interested in the Swedish brand. Sources from the newspaper have said that Crown, an American consortium, are currently interested in securing financial aid for the brand. The consortium are interested...

Geely is apparently the only automaker really interested in Volvo, and sadly, negotiations have come to a halt. Geely and Volvo are no longer talking about this, as they are still negotiating a load of terms and conditions revolving around the transaction. Allan Mulally, Ford’s CEO said, “Volvo is a good brand, but Ford will sell it in order to shift...

Not many companies seem to be attracted to the fact that Volvo is for sale. Many potential investors are over looking this as they are not too interested in the Swedish brand. However, a report has said that Chinese automaker Geely is definitely interested in the brand. This makes Geely the second automaker, after BAIC, to be interested in a Volvo purchase from...

Many people do not trust Chinese companies, mainly because they are scared of the language barrier. Well, although that is not a really good reason at all, it’s kind of true. Chinese companies have been in the media a lot recently as they are trying to branch out to the European markets. The most recent news about Chinese automakers involve two things,...

Alongside the sale of Opel in Europe comes the Volvo brand which seems to have many Chinese companies interested. It was said that BAIC, a company that fell out of the race for Opel is definitely interested in the Swedish brand, alongside Geely which is a company that is famous for ‘copying’ other automakers cars. “We’ve been in discussion...

Reports from China are indicating that Ford are in talks with Geely, the Chinese automaker, to sell the Volvo Cars brand. The reports have said that Geely are planning to start production on a new Volvo car in China. It’s been said that Geely are prepared to invest US$10 billion into this deal. Volvo has denied these reports by saying, “An announcement...

A report has found its way online, and it states that there are three serious buyers for the Saab brand. The buyers are, Fiat, Geely – the Chinese automaker which copies the Rolls-Royce and an undisclosed German bank. The Geely bid was apparently pre-rejected by Fritz Henderson, as he was not interested in Chinese competition.

Geely have released a new set of images which feature the EC718 Sedan and hatchback models. The two models will be at the Shanghai show, where they will be accompanied by 20 or so other models from the same brand. The new subcompact models will be available on the Chinese market with various four-cylinder engines.