Geely bids for money-losing Volvo

• Source: Ce.cn
• [17:56 September 02 2009]
• Comments

The Hangzhou-based automaker, originally best known for its low-priced cars, launched luxury brand Emgrand in July. At the same time it debuted its first mid-to-high segment model, the EC7 sedan, showing its determination to enlarge its product portfolio to include the high-end segment.

But Jia said he still doubted whether Geely would go through with the deal.

"The acquisition not only includes the brand and technology which will positively help Geely on its future development, but also involves Volvo's factory, employees in Sweden and many dealers, parts suppliers even debts overseas," he said. "Geely should think hard whether buying Volvo would be a good thing."

(China Daily)