Geely planning to keep Volvo production in Europe

Article by Christian A., on August 26, 2010

Negotiations participated in by representatives associated with China's Zhejiang Geely Holding Group's impending purchase of Volvo are off to a good start.

Zhejiang Geely has informed unions that it intends to keep Volvo production in Europe. Last Thursday, union leaders at the Ford Motor Co. unit held their first talks with Geely.

At the moment, the unions are waiting to be presented with Geely's financing plans for Volvo.

Volvo Cars union IF Metall Chairman Mikael Sallstrom said the parties have yet to discuss issues such as how Geely will fund future investments. Sallstrom said that in their first meeting, the parties presented their overall ambitions.

What the unions found to be positive is Geely's intention to keep and develop their business in Europe, and to allow volumes to grow. Zhejiang Geely Holding Group, parent of Geely Automobile, is Ford's preferred bidder for Volvo.

Representatives for Geely this week met Volvo's management team, the Swedish government and Volvo union leaders as a part of negotiations with Ford.

Sallstrom said that in the following week, the union would meet Volvo's management team to lay out plans for further talks with Geely.

If you liked the article, share on:

Comments

Recommended

Mazda seems too far ahead in Safety technology for having four of its vehicles chosen as the safest on the road. Very recently, the Insurance Institute for Highway Safety has...
by - June 22, 2017
The automotive world is intensely competitive given the growing number of players, but the British car manufacturer is adamantly holding on to its spot. The 2018 Jaguar XF Sportbrake, priced...
by - June 22, 2017
Audi’s all-electric supercar, the R8 e-tron, had been discontinued last October after being in the market for under two years. The electric vehicle was then exclusive to the European market...
by - June 22, 2017
Dodge has made it clear to everyone, including its potential buyers, that the Challenger SRT Demon is a street-legal drag car - that it is unlike any of your ordinary...
by - June 22, 2017
After a number of failed attempts, Tesla finally gets an Arizona dealership license by winning a court battle that allows them to sell directly to consumers. The automotive dealer license...
by - June 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries