• Sweden edition
 

Crown rolls out new bid for Volvo Cars

Published: 03 Dec 2009 17:27 GMT+01:00
Updated: 03 Dec 2009 17:27 GMT+01:00

“An offer from the Crown consortium has been submitted. I can confirm that,” Holtback told the TT news agency.

However, he refused to elaborate on the potential deal to buy Volvo from US-owner Ford reported on by the Wall Street Journal.

Magnus Sundemo, chair of the Volvo Cars' chapter of the engineers’ union Ingenjörer/Akademikerna, thinks that Ford has a rather flexible deadline for how long it may take before reaching a final decision about an eventual sale of Volvo.

“It’s a malleable limit. But naturally it’s creeping closer all the time. And the end of the year is the end of the year. There may be a goal they wish to achieve before the year is over,” he told TT.

Sundemo believes a potential deal with Geely is being held up by Ford's desire to protect large portions of its intellectual property from leaking to China.

“From what I understand, that’s the issue Ford is putting most of its energy into. It’s a bit of a double-edged sword. We (Volvo’s unions) want to bring enough with us to the new owners to remain a competitive company. Meanwhile Ford wants to release as little as possible,” he said.

What remains clear, however, is that the ties between Volvo and Ford won’t be cut especially quickly.

“Somehow there will be a ‘transfer period’. We have common platforms and common tools. That must be regulated. You can't just cut the cord. We’re going to have to live together for a few years regardless of who the buyer is,” said Sundemo.

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

21:53 December 3, 2009 by karex
I've always known it comes down to technology transfer with the Chinese...
22:03 December 3, 2009 by Leprechaun .se
The ones who sold saab and volvo to the US in the first place need serious amounts of hate letters. How could they be so stupid? AH!

Is there a possibility that this is going to turn out well?
22:29 December 3, 2009 by karex
A lot of thought went into it. When an automobile manufacturer is part of a larger group with products that follow a completely different strategy, such as quality instead of volume focus (as the car industry seemed to be heading led by American manufacturers), you have to choose which one to keep.

The groups owning Volvo and Saab had to decide what to let go. They opted for the automobile division.

Renault was faced with the same dillema, but they chose to keep the automobile division and sell off the other products instead.

You can't effectively run a business which contains one part of the product line following one market strategy and the other a completely opposite one. It's that simple.
09:40 December 4, 2009 by spy
A chinese company really would be the last option for Ford. I hope this new consortium can muster the cash required. Good luck volvo!
11:13 December 6, 2009 by bmwlee
We like our Volvo XC90. Our 6 year old likes the rear seat entertainment system. We make trips on it. We enjoy it very much. We were planing to get another Volvo. But, if Volvo cars are going to make in China, we are not going to buy any Volvo any more. Therefore, we hold off buying.

I have no luck with Chinese products. I refuse to buy them as much as I could.

I don't think Chinese Geely would be following rules and regulations to protect the intelligent technology.

It's a shame that Volvo sold the car division to Ford to begin with...
09:42 December 8, 2009 by voidplay
The chinese make your laptops and camera and your computer chips to if not now they might someday surpass Volvo in technology. Join them and stay afloat if you can't beat them.
Today's headlines
In Pictures: Conchita Wurst in Stockholm
Photo: Maja Suslin/TT

In Pictures: Conchita Wurst in Stockholm

Eurovision winner and LGBTQ idol Conchita Wurst is in Stockholm this week for Stockholm Pride - and joined Swedes at Skansen for a colourful summer sing-along. READ  

Stockholm holds colour contest for new metro
Photo: Joel Bagon

Stockholm holds colour contest for new metro

Stockholm's new metro line is not set for preliminary construction until 2016, and will not be completed until 2022 - but Swedes already have the chance to vote for the new line's colour. READ  

Sweden's heat wave officially over

Sweden's heat wave officially over

The heat wave that swept over Sweden recently has finally passed, meteorologists reported on Wednesday, promising cooler and more autumnal temperatures around the corner. READ  

Ukraine rebels release kidnapped Swede
Rebel tanks on the road to Horlivka in June. Photo: TT

Ukraine rebels release kidnapped Swede

The Swede who was kidnapped by pro-Russian rebels has been released after nearly three weeks of being held hostage - although no one knows where he is now. READ  

Stockholm Pride 2014
Stockholm Pride bars Sweden Democrats
Photos: Henrik Montgomery/Fredrik Persson/TT

Stockholm Pride bars Sweden Democrats

While a record number of ministers and party leaders will participate in the Stockholm Pride Parade this year, there are notable exceptions - including SD leader Jimmie Åkesson, who is not only 'uninterested' but banned. READ  

Gender neutral 'hen' enters dictionary
Soon 'hen' will be found on this page. Photo: The Local

Gender neutral 'hen' enters dictionary

The ever-controversial pronoun 'hen' has won its battle and is set to officially become part of the Swedish language. READ  

Pines, polska and magic: Urkult Music Festival
Photo: Danny Chapman/The Local

Pines, polska and magic: Urkult Music Festival

The Urkult music festival in northern Sweden may be less sex, drugs and rock'n'roll and more family fun, chai and polska dancing - but Danny Chapman says it’s one of the most magical Swedish experiences he has had. READ  

Presented by Stockholm Business Region
Introducing... ID cards and permits in Stockholm
You want one of these. Photo: Skatteverket

Introducing... ID cards and permits in Stockholm

When it comes to data-driven life, from daycare to healthcare, Sweden is in a league of its own. Above all, your personal number is the key that unlocks life in Stockholm. READ  

In Pictures: The Local's Property of the Week
Photo: Fastighetsbyrån

In Pictures: The Local's Property of the Week

All aboard! We're off to the island of Gotland for our Property of the Week - a home right in the heart of Medieval Visby. Whether you're looking to buy or dying to look - this is the place for you. READ  

Stockholm Pride 2014
Stockholm Pride glides into seventeenth year
Stockholm Pride. Photo: Erik Mårtensson/TT

Stockholm Pride glides into seventeenth year

The largest pride festival in Scandinavia is back for the 17th year in a row. The week promises to be packed with activities - and a glamorous opening gala with Eurovision winner Conchita Wurst. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Stockholm Pride: Allsång på Skansen with Conchita Wurst
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Blog updates

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 

24 July

Sharing our Pride: Celebrating Love & the LGBT Community! (Stockholm in my American Heart) »

"It’s mid- July in Stockholm, and with much of the city on vacation, things can seem a little quiet – the streets, the bus, and the grocery store. One thing that has not paused for a summer break, though, is preparation for Stockholm’s Pride Festival, which will take place from July 28 to August 2...." READ »

 
 
 
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Business & Money
Sweden falls to third in global innovation index
Society
Swedish ornithologists keep webcam watch
Photo: Andreas Nordström/Image Bank Sweden
Gallery
Top ten Swedish beach hot spots
Tech
Swedish Wiki vet sets new content record
Photo: Fastighetsbyrån
Lifestyle
In Pictures: The Local's Property of the Week
Photo: Finest.se
Gallery
People-watching July 15-16
Photo: Ola Ericson/Image Bank Sweden
Society
What's On in Sweden
Photo: Lisa Mikulski
National
Hope springs eternal for expat pet shop owner
Gallery
Princess Estelle steals limelight at mum's birthday
National
Swedes risk infants' lives by covering up prams
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

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 Denmark

More news from Denmark at thelocal.dk

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

734
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:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se