Advertisement
Find a Car
Go!

Report: Geely Buys Volvo from Ford

Follow Marty

2009 Volvo XC90 I6

2009 Volvo XC90 I6

Enlarge Photo

Ford and Volvo haven't made any official announcements, but the Chinese media and Britain's Autocar are reporting that automaker Geely has agreed to purchase Volvo Car Corporation.

The deal has been in the works for some time, as Ford auctions off its formerly vast empire. In the past two years, Ford has sold off Aston Martin, Jaguar, Land Rover and a chunk of its stake in Mazda.

The report says Geely will invest about $10 billion in Volvo and will produce a new vehicle with a Volvo badge in China. It also indicates the deal will only be made public when (and if, given Geely's track record of inking deals to make cars) the automakers can agree on technology transfers.

That could be a tricky situation for Ford, which has spun much of its current large car lineup from Volvo. The 2010 Ford Taurus, 2009 Lincoln MKS, 2010 Lincoln MKT and 2009 Ford Flex all owe their body structures and all-wheel-drive systems, in part, to Volvo designs.

Ford purchased Volvo for $6.5 billion in 1999 and analysts told Autocar that a sale price of no less than $3 billion is expected.

[Autocar]

Advertisement
 
Follow Us

 

Have an opinion?

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comments (2)
  1. Wow, these are interesting times. The whole rise of China as an economic force is interesting to see. Let's hope Volvo stays boxy :)
     
    Post Reply
    Vote
    Bad stuff?

  2. Amen to that, Tom. I think you agree that China car-makers are rapidly getting with the game and will become to next "Korea" overtaking the Japanese.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion? Join the conversation!

Advertisement
Advertisement
Try My Showroom
Save cars, write notes, and comparison shop with hi-res photos.
Add your first car
Take Us With You!
   
Related Used Listings
Browse used listings in your area
Advertisement

 
© 2014 The Car Connection. All Rights Reserved. The Car Connection is published by High Gear Media. Stock photography by izmo, Inc. Send us feedback.