http://www.chinacartimes.com/2010/01/11/volvo-geely-deal-exposed/comment-page-1/
Volvo Geely Deal Exposed!
11 JANUARY 2010 4 COMMENTS
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Since early 2009 we have constantly hear rumours that Geely are planning to take over Volvo from Ford, eventually in late 2009 the deal was announced; Geely would become Volvo’s new master. A final price hasn’t been announced, but it is expected to be somewhere in the range from 1.5 billion to 2 billion RMB, considerably less than the 6 billion USD that Ford originally paid for Volvo.
The wording of the Volvo-Geely deal has yet to be finally announced, but some insider information that was leaked to the Chinese internet earlier today claims that:
Geely gets 9 products – S40, S60, S80, C70, C30, XC90, XC60, V50, V70
Three platforms – P1, P2, P24. The P1 platform is especially for compact cars, whilst the P2 platform is for larger sized cars
A worldwide dealership network of 2000 dealers
Access to Volvo supply chain, which will guarantee quality and delivery of products
All Volvo branding
The shopping list is fantastic for Geely, and will raise it from being a backwater car maker to an international player overnight. Geely are apparently hoping for world Volvo sales to hit 2 million units per year worldwide in the next 4 to 5 years, but in the meantime they are apparently aiming for sales of 1 million globally. Currently global sales of Volvo cars are at around 400,000 units, whilst China only accounts for a mere 13,000 cars. Geely are planning to give Volvo their biggest lease of life here in China by giving Volvo some more Chinese ‘design elements’ to make it more popular with local tastes, which doesn’t just mean they’ll be stretching yet more wheelbases to appeal to the Audi A4L crowd.
Financially speaking, Geely are apparently aiming to make a profit from Volvo within a year of ownership, and before 2015 they are aiming to get their investment in Volvo back.
Still, are Geely capable of selling a Chinese built Volvo?
Volvo Geely Deal Exposed!
11 JANUARY 2010 4 COMMENTS
XHello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic.
Powered by WP Greet Box
Since early 2009 we have constantly hear rumours that Geely are planning to take over Volvo from Ford, eventually in late 2009 the deal was announced; Geely would become Volvo’s new master. A final price hasn’t been announced, but it is expected to be somewhere in the range from 1.5 billion to 2 billion RMB, considerably less than the 6 billion USD that Ford originally paid for Volvo.
The wording of the Volvo-Geely deal has yet to be finally announced, but some insider information that was leaked to the Chinese internet earlier today claims that:
Geely gets 9 products – S40, S60, S80, C70, C30, XC90, XC60, V50, V70
Three platforms – P1, P2, P24. The P1 platform is especially for compact cars, whilst the P2 platform is for larger sized cars
A worldwide dealership network of 2000 dealers
Access to Volvo supply chain, which will guarantee quality and delivery of products
All Volvo branding
The shopping list is fantastic for Geely, and will raise it from being a backwater car maker to an international player overnight. Geely are apparently hoping for world Volvo sales to hit 2 million units per year worldwide in the next 4 to 5 years, but in the meantime they are apparently aiming for sales of 1 million globally. Currently global sales of Volvo cars are at around 400,000 units, whilst China only accounts for a mere 13,000 cars. Geely are planning to give Volvo their biggest lease of life here in China by giving Volvo some more Chinese ‘design elements’ to make it more popular with local tastes, which doesn’t just mean they’ll be stretching yet more wheelbases to appeal to the Audi A4L crowd.
Financially speaking, Geely are apparently aiming to make a profit from Volvo within a year of ownership, and before 2015 they are aiming to get their investment in Volvo back.
Still, are Geely capable of selling a Chinese built Volvo?
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