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Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars. On 28 October 2009, Ford named Geely the preferred buyer of Volvo Cars. [13] [14] On 23 December 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. Geely signed a deal with Ford to acquire Volvo Cars ...
China's Geely Automobile and its Swedish sister company Volvo Cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric ...
On 28 March 2010, Ford sold Volvo Cars at a loss to Geely Holding for $1.8 billion; the deal closed in August 2010. [4] [5] Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely Holding still retains majority ownership. Volvo Cars and AB Volvo share the Volvo logo, and cooperate in running the Volvo Museum.
Lynk & Co (Chinese: 领克) was established in 2017 that uses technology developed jointly by Volvo Cars and Geely Auto. [112] Before 2024, It was owned 50% by Geely Auto, 30% by Volvo Cars, and 20% by ZGH. It currently 51% owned by Zeekr and 49% owned by Geely Auto after restructuring.
Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was considering options for Volvo, including an IPO and stock market listing.
With continued strong growth and highly competitive companies, China has been trying to press into global markets. However, the politics of growth can get difficult -- not to mention the cultural ...
Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Volvo until 1999, when it was sold to the Ford Motor Company. Since 2010 Volvo Cars has been owned by the automotive company Geely Holding Group. Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Gothenburg, Sweden. [6]
Volvo Cars will merge its engine development and manufacturing assets with those of parent Geely, creating a division to supply in-house brands Lotus, LEVC, Lynk and Proton, and also potential ...