The deal between Ford and China’s Geely is almost complete. Geely is set to close the $2 billion deal for Volvo this month and Geely plans on running Volvo as a separate entity to protect its luxury image.
“We want to be careful not to damage the Volvo brand,” said Freeman Shen, Geely’s vice president for international operations. “We don’t want the image of a luxury car made in a third world country. We want the image of a European luxury car, albeit owned by a Chinese owner.”
Geely is planning on building a Volvo plant in China, but it’s main operations will not be moved there.
Full Story: Autocar
Geely Could Buy Volvo for as Much as $1.8 Billion