• From The BBC:

    China’s Geely Automotive says its parent company would bid for Volvo if Ford decides to sell the Swedish firm.The company said it would make an offer in conjunction with a government-backed investor and it expected Ford to decide whether to sell Volvo within a month. The purchase would be a big step for Geely, which is currently a relatively small domestic carmaker. It already has a joint venture with Manganeze Bronze to make 8,000 London taxis in China. Geely used to make the cheapest cars in China but has been moving towards appealing to more affluent customers. Marque salesChinese carmakers have expressed a great deal of interest in buying international car marques, although there has been limited success so far. Sichuan Tengzhong Heavy Industrial Machinery has agreed to buy the off-road Hummer brand from General Motors. Nanjing Automobile bought the assets of MG Rover in 2006 and Shanghai Automotive may end up owning a stake in Saab Automobile as part of the takeover by the luxury…

    Click to read the full article »

    Posted by Jon @ 9:02 am

Leave a Reply

Your email address will not be published. Required fields are marked *