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Ford 'examining Chinese Volvo bid'
Published: 25 Sep 09 10:22 CET | Print version
Online: http://www.thelocal.se/22288/20090925/
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.
- Bildt welcomes China's new Arctic Council status (15 May 13)
- EU green lights Volvo and Dongfeng merger (8 May 13)
- Volvo posts biggest loss since financial crisis (25 Apr 13)
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According to Swedish newspaper reports in mid-September, Ford had informed Volvo management that Geely had withdrawn a previous offer for the company.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.
What do you think? Leave your comment below.
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Didn't Geely remove their bid? :'( I was so happy, why the speculations about them buying volvo again? Someone? Please explain..
I'm glad to see this is the kind of open-mindedness in Sweden today.
By selling Volvo to China, Ford would sign the death sentence of American automotives.
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...
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.
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.