Advertisement
Find a Car
Go!

Volvo Sale To China Final


Its taken 18 months, but the deal is finally complete.

Volvo, that august producer of safe square boxes, was sold to China carmaker Geely in a move that will save both Volvo and Ford. The sale, which cost $1.8 billion, will have a bevy of financiers including banks from China, the US and Europe, the governments of Sweden and Belgium, Geely's Hong Kong unit, and local Chinese government officials.

Money was also raised through a bake sale, a pancake breakfast, a bachelor auction featuring Alan Mulally and Steve Odell, and the pennies from thousands of grade-school children.

Now,  Volvo will be the crown jewel in recent Chinese car brand acquisitions and mark the first time a Chinese company has acquired the full operations of a major foreign automaker. In a country that has surpassed the United States as the worlds biggest auto market, purchases like this are very important.

Plans for the new Volvo include a massive upgrade in the amount of cars produced and the addition of several new, more luxurious cars to the lineup.

2011 should be an excellent year for Volvo, with redesigns of most of its vehicles continuing the slow process of chipping away at the shoebox design. Expect the little C30 and the XC models to retain the Batman taillights and expect all the cars to get larger and gaudier grilles. The little C30 should also retain its washing machine posterior.

Then there's the C90, the new super coupe with its BMW inspired body. An R model would help debunk their cars for geography teachers image.

no title

Will Volvos reputation for safety be hurt by the Chinese?  I doubt they'll be making cars out of plastic and lead-based paint, but just in case, don't lets the kids lick them.

Posted in:
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
Comment (1)
  1. One do not just pay US $ 1.8 billion just to use plastic and lead based paint to kill off one investment.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion? Join the conversation!

Advertisement
Try My Showroom
Save cars, write notes, and comparison shop with hi-res photos.
Add your first car
Advertisement
Take Us With You!
   
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.