The Geely Volvo deal look as though it may well happen. Geely, which is offering to buy 100% of Volvo, has financing in place for the deal. It also appears to be willing to meet the demands of Volvo regarding intellectual property. As Ford named Geely as the preferred bidder for Volvo in October, it is now beging to look like a deal.
Ford will continue supplying components following a sale and it still has some patent concerns with Geely, but it seems likely these will be overcome.
China Daily said Geely is prepared to pay about $2 billion for Volvo, less than a third of what Ford paid a decade ago.
Geely Group, China’s biggest private automaker, boosted 10 month revenue 26%. Vehicle sales rose 45% to more than 200,000.