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Not all too surprisingly, China’s Geely is planning to build a Volvo factory in China once the purchase of Volvo from Ford has closed, Bloomberg reports. The plant will most likely go up in Beijing, but just in case the Beijing government is not providing the adequate support, Geely has two other Chinese cities identified for the facility.
The plant will be capable of producing 300,000 vehicles a year and will help more than double Volvo’s annual global sales to one million cars within five years, says Gasgoo.
As far as the sale goes, Ford and Geely have agreed on “all substantial commercial terms.” A definitive agreement is planned to be signed by March 31, with the sale to be completed by June 30.
4 Comments on “Geely Plans Volvo Factory In China...”
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Geely?…..Geely,…Geely!
Sorry!
We knew this was coming, still…
At the tail of my automotive career, body structure design became very secretive. Nobody was allowed in without autorization. Now some of the best structural design in the world has gone to Chinese Communist Capitalists for peanuts.
PS A few months ago I saw an exact copy of a Texas chemical plant being transplanted to China. Feet to meters, inches to millimters; guarding, e-stops, and even bollards deleted from the drawings. It was on an overhead projector, and the presenter was very proud, as he’d gotten a commission payment. The audience was enthusiastic, but I felt uneasy.
I can’t help but imagine if Volvo were GM owned. GM would be investing billions in China to build that factory, bleeding the rest of the company dry to do it and in the end only steal Chinese market share from themselves.
Ford isn’t brilliant… Volvo probably cost them $12-15B over the years, but at least they are cutting bait and getting something for it.
Why should the Chinese buy worthless American government bonds when they can obtain something tangible for their dollars? And the Chi-Coms are our enemies? In a saner world we’d all commit suicide. As the great statesman Pogo Possum said, “We have met the enemy, and he is us.”