China Economic Review
Charting China’s changing economic terrain · Since 1990
Geely may bid for Volvo
September 17, 2009
Geely has been moving towards making more expensive cars and 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.
The BBC said Geely used to make the cheapest cars in China but has been moving towards appealing to more affluent customers.