Zhejiang Geely

Tensions rise over Volvo's identity under China's Geely, sources say

The XC Coupe concept car incorporates some of the new pizzazz sought by Volvo chairman Li Shufu. Photo: EPA

The strategic path Volvo Car plans to follow is in question because of discord at the board level between new Chinese ownership and traditional European ways, according to two people familiar with the situation.

Saturday, 18 January, 2014, 12:59am

Volvo returns to 'safety first' marketing strategy

Volvo sells nearly as many cars in China as it does in the United States. Photo: AP

Volvo has realised that safe is better than sexy.

After several years adrift, as it changed owners and flirted with sexier advertisements, the Swedish carmaker is in the midst of a US$11 billion turnaround plan that it hopes will nearly double worldwide sales to 800,000 by 2020.

7 Nov 2013 - 3:43pm

Volvo factory to compete with China rivals

Volvo posted a loss last year as global sales fell 6.1 per cent to 421,951 vehicles. In China, sales dropped 11 per cent. Photo: Reuters

Three years after buying Volvo Cars, mainland tycoon Li Shufu may get to compete with BMW and Volkswagen's Audi on a more level playing field in his own country.

29 Aug 2013 - 4:13am

Forecasts drive up car bond sales

Geely is helping drive up debt issuance this year. Photo: Xinhua

Guangzhou Automobile Industry Group, Zhejiang Geely and Wanxiang Qianchao are among companies that have sold 8.2 billion yuan (HK$10.1 billion) of debt so far this year, compared with 2.5 billion yuan a year earlier, according to data compiled by Bloomberg. Overall corporate bond sales rose 21 per cent to 399 billion yuan.

23 Feb 2013 - 3:21am

Geely purchases London taxi maker Manganese Bronze for £11m

The China-made London Taxi Manganese Bronze. Photo: Sam Tsang

As Geely will take over the servicing of all the taxi maker's existing vehicles, it will have to shoulder the repair costs of the 400 Manganese Bronze taxis that were recalled in October because of a fault in their steering boxes.

2 Feb 2013 - 4:25am

Geely in running to buy stalled London cab firm

Zhejiang Geely has offered to buy the 80 per cent it does not own of London taxi manufacturer Manganese Bronze, which is under administration. Photo: K.Y. Cheng

Mainland carmaker Zhejiang Geely may buy out its London taxi manufacturing partner Manganese Bronze for less than £2.7 million (HK$33 million), a person familiar with the talks said.

Zhejiang Geely, the parent company of Hong Kong-listed Geely Automobile, proposed a deal to Manganese Bronze last month to buy out the remaining 80 per cent stake of the company, according to the person.

26 Jan 2013 - 4:36am