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

Mitsubishi finally introduces the new Xpander MPV at the 2017 Indonesia International Auto Show in Jakarta Indonesia. Replacing the previous Expander, the new multipurpose vehicle will be mostly sold at...
by - August 16, 2017
Infiniti revealed its retro Prototype 9 race car before its slated debut at 2017 Pebble Beach Concours d'Elegance next week. In a recent press release, the company not only disclosed...
by - August 16, 2017
In the United States, not many automakers offer crossovers with a diesel engine option, but Chevrolet does, with their 2018 Equinox. Those who opt for this engine will get some...
by - August 16, 2017
Here are some things that potential buyers of the Ford F-150 and Ford Expedition could look forward to for the 2018 model year. The 2018 models of the F-150 pickup...
by - August 15, 2017
We first saw the McLaren 720S earlier this year when it made its debut at the Geneva Motor Show, and we all agree that it is a beautiful car. But...
by - August 15, 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