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View Full Version : Want a refrigerator with your new Volvo?



The Bigfella
12-23-2009, 06:46 PM
US AUTO giant Ford says it has agreed on the main terms for selling its Swedish brand Volvo cars to Chinese car maker Geely, a deal set to underline China's growing economic clout.

Ford said overnight that a definitive accord would be signed early in 2010 with Geely, a former refrigerator parts supplier that has grown into one of China's largest private car makers since launching its car business in 1997.

"Ford Motor Company confirmed today that all substantive commercial terms relating to the potential sale of Volvo Car Corporation have been settled between Ford and Zhejiang Geely Holding Group," Ford said in a statement.

The US company said it expected "a definitive sale agreement will be signed in the first quarter of 2010, subject to appropriate regulatory approvals."

The number-two US car maker said work still remained before finalising the deal, including "final documentation, financing, and government approvals."

more....

http://www.theaustralian.com.au/business/news/ford-to-sell-volvo-to-chinese-company/story-e6frg90f-1225813347619

So the Swedish car industry may end up with the Dutch (Spyker - Saab - to be confirmed) and the Chinese after a few years without joy under American ownership?

seanz
12-23-2009, 07:00 PM
That'd be good for cold conditions.....a car with auto-defrost.
:)