Chinese state investor gets 40 percent of Volvo
Published: 24 Jun 10 11:50 CET | Print version
Online: http://www.thelocal.se/27426/20100624/
Volvo Cars now has a government partner among its investors, but it is not the Swedish state, TV4's business news program Ekonominyheterna reported late on Wednesday.
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"The regional state fund is Geely's external financial partner," Anders Fogel, Geely's spokesman in Sweden, told newspapers Dagens Industri, AFP reported. "We can't immediately say what percentages the partners will have in Volvo Cars," he added.
Olle Axelson, director of communications at Volvo Cars, is positive that a strong backer for the company is coming in.
"This signifies financial security for the deal," he told news agency TT, referring to the deal Geely inked with Ford to acquire Volvo Cars for $1.8 billion on March 28th, almost four times less than what it had paid for the brand 11 years earlier.
According to Dagens Industri, quoting sources close to the deal, the purchase will be finalised in August, AFP reported. Geely has previously promised that no Swedish jobs will end up in China and that research and development would remain in Sweden.
When asked if he trusted Geely to keep its promises, Axelson said, "Of course, this has been clearly expressed to employees. One cannot move a car factory because it is such a regulated operation with thousands of subcontractors in many segments."
Geely's owners have previously said that they will open a production plant in China. It also plans to expand Volvo's presence in China, now the world's largest car market.
According to TV4, the state fund has imposed a requirement on the deal, allowing it to influence where the Chinese factory will be built.
"I do not know how this relationship works," said Axelson in refernece to the kind of demands it can make as a major shareholder. "However, a plant cannot be built anywhere without it being in the right place logistically. There are many parameters that govern the decision."
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Buy a Volvo and financially sponsor the Chinese Government in supressing Tibetan rights, etc...
Or dump Volvo cars en masse and kill 31,00 Swedish jobs ....
Hmmm ..... *difficult* decision....
Tietbet under Dalai Lama before 1950 was a slavery region, that means the general public are nothing but slaves. I don't know if you are talking about is the Tiebet under Dalai Lama?
In my eye, your information is worthless.
The level of your ignorance is spectacular. If you actually did a thorough research yourself as opposed to eating what comes out of the asses of the Chinese Government, you would discover that your conclusion is incorrect.
But okay, you have your views and I have mine. And lets accept that.
But now I ask you: What if you are wrong? What are the consequences of you being wrong? What if the Dalai Lama was in fact the liberator of Tibet and the Chinese being the opressors currently enslaving the Tibetan population?
And in my case: If I am am wrong, what are the consequences? Well, I can answer that now because if I am actually wrong and the Dalai Lama is an opressor and the Chinese "liberated" Tibet in the 50s, then the 74 year old man - will die as a failed dictator. Nothing more.
You do your research more thoroughly, that is all that can be asked of any Chinese citizen. Refusing to use the kind of informational priviledge presently at your fingertips and being complacent to a tragic cultural genocidal outcome is beyond idiocy. Its inhuman - the very kind of thing that goes against your existence in this present moment.
I am a Chinese, the only thing I can see from Tibet policy is the stupid Chinese government is using the our money to provide supplies for the Tibetians. The Chinese government is trying to gain control from that region and keep the current border. However, it neither voted nor permitted by the majority of Chinese. The government is feeding the laziest people like how Swedish control the Soumi and keep the land in the north. I hate that, whatever it happens in Sweden or in China. However, it is not true that, the Tibetians are living in a inhuman life.
by the way, there is something called human dignity, prohibiting people from practicing what they believe does not enrich that, you know.
can you access the real unfiltered internet in china like in sweden? no you can't. why is that ?
you didn't argue the fact that the commies filter the internet, that's good.
unfiltering internet-- appear the opinion to against commies -- commies step down -- chinese civil war -- the people in the lowest rung die or miserably poor -- no pizza or bread.
this scenario have been preformed almost 2 thousands years in china. in the most time the unfilter internet instead by slogans.
i've heard your theory somewhere, oh I remember, from the commies, for decades.
are chinese people really that crazy and stupid that the only thing they can come up with when the internet is not filtered is self destruction? will you do that yourself?
In the past week we have seen the new CEO from VW arrive on site at Volvo and then all Press Releases about the new CEO get cancelled, because Geely cannot even calculate notice periods and work out that VW will not just roll-over and let their man go.
Now that August 2nd is looming, it's obvious that without any of the current management contracted to stay, and the new CEO unable to start, that it's a disaster....
Chairman Li must be the worst informed and most ill- advised person in the car industry, run a close second by the Swedish Politicians who expect to go to China and see a joined up plan that they can trust.