Car Trends + [Volvo]

Chinese company Geely will buy Volvo for two billion dollars

Concern Ford

Chinese motor-car manufacturer Geely plans to offer concern Ford which is the owner of mark Volvo, to redeem at concern the Swedish company for two billion dollars. As informs The Auto Channel, the official demand will be submitted by the end of July.

According to some information, company Geely has already signed with Ford the preliminary agreement on acquisition of mark Volvo. It's expected, that after purchase of the Scandinavian motor-car manufacturer in the Chinese city of Duanguan new factory Geely where it's planned to adjust assemblage of crossovers XC90 made at present in the USA will be constructed. According to Chineses, they wish to buy Volvo to increase manufacture and sales of these cars in the country.

According to sources The Auto Channel, Geely three years the plan on purchase Volvo, however originally prepares, management Ford sceptically concerned to sale of the Swedish mark to Chineses. Now in "Ford" consider, that Geely can successfully operate and develop the company. We will notice, that officially the information on negotiations and the agreement with Geely in the American concern while deny.

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