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February 14, 2012
Former parent 'not interested' in Volvo Cars
Published: 17 Aug 09 17:29 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21520/20090817/
Volvo Cars' one-time parent company Volvo Group has thrown cold water on claims that it is mulling membership of a consortium working to bring the auto maker back to Sweden.
- Volvo group announces record sales for 2011 (3 Feb 12)
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"We're not interested in investing in Volvo Cars," said Volvo Group spokesman Mårten Wikforss.
Ten years have passed since truck maker Volvo Group sold its car division to US auto giant Ford. Nevertheless, Volvo Group said it continued to follow the current sale process closely.
"Of course we are following the whole thing from the perspective that we own half the trademark. But we have no interest in investing in the company," said Wikforss.
Jakob AB, named after one of the original Volvo cars, is a company that has been formed with the intention of attracting investors to Volvo Cars. Several parties have expressed concern about the likelihood of Volvo Cars ending up in Chinese hands, with a consortium led by Geely rumoured to be closing in on a bid.
"We're trying to find an alternative to Chinese ownership. We're worried about production and product development leaving Sweden," Sören Carlsson, head of the Unionen labour group at Volvo Cars, told news agency TT.
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Volvo cars has been underinvested and stripped out. It will take a lot to build the company up again.
I really do hope a Scandinavian or North European consortium can be put together to purchase Volvo and keep it as a going concern.
who gets these ideas?
manufacturing is dead in western europe for most things, the only things that will survive the chop in places like scandinavia, france, germany, italy etc is niche products that cannot be made in cheaper places.
a volvo is just a car, its not a handmade piece of expensive jewellery.