Safe, solid and understated in a Swedish way, or a wannabe luxury brand pandering to a Chinese taste for excess and ‘bling’: that’s the debate causing ripples at the top of Volvo Car Corp, under...
- Thu
- Oct 3, 2013
- Updated: 11:15pm
Volvo
Dating back to 1927, when its first model was built, Volvo Group used to build trucks and cars, as well as marine and aero engines. In 1999, it sold its car business to Ford Motor for US$6.45 billion, and focused on commercial vehicles. Ford sold Volvo to China’s Geely in 2010.
A funny thing happened on the way to China’s drive to build a world-beating auto industry: It got sidetracked.
The bankruptcy of Geely's UK investment could foreshadow a similar fate for its Volvo unit, which has been plagued by management turmoil and failure to execute a turnaround plan.
Volvo is rapidly running into trouble and could eventually pull down Geely, while GM is consolidating its market leading position through strong growth for its low-end cars.
Opinion
Volvo's bus unit will improve its production system to boost profitability, which has lagged behind the company's truck and construction equipment divisions for years, according to the head of the...
Zhejiang Geely Holdings Group will soon announce a plan to develop a new Chinese brand with Volvo Car Corp through a 50-50 joint venture.
Zhejiang Geely Holdings Group will soon announce a plan to develop a new Chinese brand with Volvo Car Corp through a 50-50 joint venture.
Zhejiang Geely Group's Sweden-based Volvo Car unit is planning a 4.58 billion yuan (HK$5.51 billion) investment on a second Chinese carmaking plant in the northeastern city of Daqing, according to...
Zhejiang Geely Group's Sweden-based Volvo Car unit is planning a 4.58 billion yuan (HK$5.51 billion) investment on a second Chinese carmaking plant in the northeastern city of Daqing, according to...
Zhejiang Geely Group is betting its newly acquired, Sweden-based Volvo Car unit can remain foreign enough to win over well-heeled mainland consumers but become Chinese enough to cultivate...
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