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Geely Automobile and sister company Volvo Cars, which parent Zhejiang Geely Holding Group Co Ltd bought from Ford Motor Co in 2010, are planning to merge and list in Hong Kong and possibly ...
In February 2020, Volvo and Geely announced that they had started formal discussions about a merger of business. Geely had owned 100% of Volvo, but Volvo Cars had largely been allowed autonomy with its resources. [47] These merger talks were later halted, and 18% of Volvo Cars shares were listed on the Nasdaq Stockholm stock exchange in October ...
On 28 October 2009, Ford named Geely the preferred buyer of Volvo Cars. [13] [14] On 23 December 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. Geely signed a deal with Ford to acquire Volvo Cars for $1.8 billion on 28 March 2010 and closed the deal on 2 August 2010. [6]
China's Geely Automobile and its Swedish sister company Volvo Cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric ...
Volvo Group (6.8% stake) In 2017, Geely acquired an 8.2% stake of Volvo AB, which is also about 15% of votes. [132] [133] In January 2024, Geely announced to reduce its holdings in Volvo Group by 685 million USD. The stake has been lowered from 8.2% to 6.8%. Despite the reduction, Geely remains the second-largest shareholder in Volvo Group. [134]
Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was considering options for Volvo, including an IPO and stock market listing. ... In February, Geely's Hong ...
Geely Geometry (2019–2024, subsidiary of Geely, merged into Geely Galaxy) Emgrand (2009–2014, subsidiary of Geely, rolled back into Geely Auto) Gleagle (2008–2014, subsidiary of Geely, rolled back into Geely Auto) Englon (2010–2013, subsidiary of Geely, rebranded as LEVC) Zhidou (2014–2020, subsidiary of Geely) Sar (2021–2023 ...
Ford Motor (F) announced Monday that it has completed the sale of Volvo, its Swedish unit, to China's Zhejiang Geely Holding Group. Geely put up $1.3 billion cash for Volvo and issued a note worth ...