Geely to run Volvo as an independent brand
TT/Charlotte West · 26 Dec 2009, 08:56
Published: 26 Dec 2009 08:56 GMT+01:00
- Swedish media sceptical over Volvo sale to Geely (25 Dec 09)
- Cross-party support for Volvo deal (23 Dec 09)
- China's Geely: from fridge parts to car giant (23 Dec 09)
"If the deal succeeds, nothing will change for Volvo, except the boss turns to Li Shufu," Li was quoted as saying by Xinhua news agency.
"Volvo and Geely will be two independently managed brands."
Geely, one of China's largest private carmakers, and Ford announced Wednesday they had agreed on the main terms of the sale of the Swedish automaker, with a final agreement expected to be signed in early 2010.
Earlier this week, Ford's announcement was greeted by skepticism among Swedish media, who speculated that Chinese ownership would damage the Swedish auto brand.