Geely is the leading contender to takeover Volvo

Chinese manufacturer Geely is inching its way to take over Volvo from Ford and a report in the Wall Street Journal is saying that in fact, it has emerged as the leading contender. Geely’s bid is estimated to be worth $2.5 billion, a bid that Ford and outsiders consider much higher than was expected for Volvo.

In the past few years, Volvo was reported to have lost more than $1bn. While it seems that the proposal is too good to be true, there is one sticking point. Geely is asking to take on only Volvo’s assets, such as its safety technology and factories. Geely does not want to be involved in any post-Ford restructuring process, taking on pension debt or unwanted inventory.
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OBSERVER1984 - 9/25/2009 4:53:08 PM

+3 Boost

One of the highest quality brands in the world of automakers and they will sell it to Geely? Why Ford wants to ruin it so much!?!

lexusrox123 - 9/25/2009 5:07:30 PM

+2 Boost

Shame if it does...

4ron - 9/25/2009 5:09:04 PM

+3 Boost

How sad. Where is Ford's conscience?

kornholio - 9/26/2009 12:44:11 PM

+5 Boost

Actually, Hyundai should be looking at Geely as its competitor. This acquisition could allow it to leapfrog Hyundai as a luxury brand. Still think it's sweet? People only buy Hyundais because they are cheap. Do you really want the Chinese to have superior technology to yours and the ability to sell even cheaper than you? This deal will put Hyundai/Kia out of business if it goes through.

kornholio - 9/26/2009 8:59:36 PM

+6 Boost

That Hyundai you are smoking must be really good stuff if you believe the crap you are spewing.