Geely signs with Ford to acquire Volvo

Sunday, the chinese car company Zhejiang Geely Holding (吉利汽車) concluded an agreement with Ford, to acquire the car activities of Volvo. A transaction of 1,8 billion dollars; Li Shufu, chairman of Geely said “China is the largest car market in the world, will become Volvo’s second home market. Volvo will be uniquely-positioned as a world-leading premium brand, tapping into the opportunities in the fast growing China market“.

Ford bought Volvo in 1999 for 6,5 billions dollars. Volvo have 22.000 employees in the world, including 16.000 in Sweden.

Geely and Volvo