• Sweden edition

Ford 'examining Chinese Volvo bid'

Published: 25 Sep 2009 10:22 GMT+02:00
Updated: 25 Sep 2009 10:22 GMT+02:00

Ford's chief executive Alan Mulally has said plans to sell Swedish subsidiary Volvo Cars are proceeding, despite rumours two weeks ago that Chinese automaker Geely had lost interest in the company.

The Wall Street Journal, citing sources close to the negotiations, reported on Thursday that Ford is currently analyzing a $2.5 billion bid from China's Geely Holding Group.

Volvo Cars' CEO Stephen Odell refused to comment on the rumours that Geely was to take over the company.

"It's up to Ford, not us, to comment on the sale," he said on Friday.

According to Swedish newspaper reports in mid-September, Ford had informed Volvo management that Geely had withdrawn a previous offer for the company.

Mikael Sällström, head of the union group at Volvo in Gothenburg, said workers were in the dark:

"Our problem is that we are being given too little information about a potential sale. We also know very little about Geely," he said.

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

12:59 September 25, 2009 by Leprehcaun
What? But what? No? What?

Didn't Geely remove their bid? :'( I was so happy, why the speculations about them buying volvo again? Someone? Please explain..
21:29 September 25, 2009 by mibrooks27
You allowed a U.S. corporation in your door. So, Volvo will be peddled around by Ford as they attempt to blackmail Sweden into coughing up ever more money. This is what you can expect when you do business with any U.S. business.
01:01 September 26, 2009 by nauticv70
Yes, I think that's a completely appropriate response to this article. All U.S. corporations are evil, and should never be trusted. As we've learned in the past, stereotypes and sweeping generalisations are not only always true, but always help nations, cultures, and businesses to succeed.

I'm glad to see this is the kind of open-mindedness in Sweden today.
11:54 September 26, 2009 by karex
I believe it must be a tactical move. Didn't I read previously somewhere that even if ALL the chinese automotive industries pooled their resources and the government pitched in they still wouldn't be able to come up with the necessary funds? So, unless they won on some big-time lottery, I find it difficult for them to be a serious contender.
15:07 September 26, 2009 by ppk
Nobody will buy Chinese Volvo, but they will get the technology and then Watch out...

By selling Volvo to China, Ford would sign the death sentence of American automotives.
19:01 September 26, 2009 by karex

You are right there. They are only interested in getting the technology to apply to their own products and will run the company to the ground pronto, as they have done before.

So let's hope that they can't come up with the money!

However, the Volvo car isn't what it used to be either. Ford delivered the virus by saving costs on quality and dressing up the window in return. One of the most affected areas was surface treatment which has become very low quality. Reducing quality to save costs has also killed their own flagship - the Mustang. A Chinese purchase of Volvo Cars will be a death blow, but might be euthanasia...
16:01 September 27, 2009 by hjoian
think yourselves lucky that volvo may be sold at a good price,and not get the same fate as Britsh Rover!!! I expect there will still be a few people making BIG bucks from this sale,and as usual...screw the workers.....
16:51 September 27, 2009 by karex
Wasn't Rover bought by BMW?
21:01 September 27, 2009 by Leprehcaun
I wish BMW or Audi bought Volvo.. that would be perfect but they are obviously not interested.
10:08 September 28, 2009 by jackylee
What a pain for Swedes to sell volvo to Ford and then to China. Do we have any other althernatives? If there would be any second party being able financially to acquire Volvo, it could have been no chance for Geely. Anyone wants and can buy?

SAAB has a new lousy owner, with a big plan but no money. Where have they got their money in the end to close the deal? SAAB belongs to Sweden, still no one wants to buy. If Geely will have enough money, we will wait and see.
20:18 September 29, 2009 by spy

On the one hand you are criticising a foreign company for trying to buy Volvo and then on the other hand you criticise a group of investors that include Scandinavians for trying to buy Saab. What do you suggest? Who would be suitable in your eyes?

Perhaps you should raid your piggy bank and buy one of the companies yourself - you sound like you have all the answers.
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

Inside the 850-year-old king's coffin
Sponsored: South-eastern Sweden offers Öland beaches and more
Swedish underwear shop puts staff in front of the camera
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Sponsored: India+Sweden Week - A film, food, and finance feast
University applications rocket to record high
People-watching April 18-20
Kids in Victorian garb mark Swedish Easter
Swedish MP ordered chemtrail probe
Swedish supermarket Ica pulls contested Easter commercial off air
Swedish royals set baptism date for princess
People-watching April 16
Who's the prime minister's heir?
Alfie Atkins
Are children's books the key to families integrating in Sweden?
'Sweden Dem protests cater to party's martyr image'
'Swedish research grants were fantastic, but now it's like Australia'
Only in Sweden: The ten problems you'd never encounter elsewhere
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
Video: Oliver Gee finds out how to embrace The Swedish Hug
Abba duo hints at reunion
Flash mobs hug it out across Sweden
People-watching April 11-13
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit: