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Geely entered the automotive industry in 1997, but only officially received national production license in November 2001. [16] Following a restructuring of Geely, ZGH was established as a holding company largely owned by Li Shufu in March 2003. ZGH acquired the Swedish passenger car maker Volvo Cars from Ford Motor Company in 2010. [17]
Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year. [34] On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Geely Holding Group, the parent of motor manufacturer Geely Automobile. [35] [36] On 23 December 2009, Ford confirmed the terms ...
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 ...
Geely transferred its 11.3% stake in Zeekr Intelligent Technology (Zeekr) to Geely Automobile Holdings (Geely Auto), increasing Geely Auto's ownership in Zeekr to 62.8%. [ 48 ] [ 49 ] Zeekr then acquired a 20% stake in Lynk & Co from Geely Auto for 3.6 billion yuan and an additional 30% from Volvo Cars for 5.4 billion yuan, securing a 51% ...
Geely is part of a sprawling auto empire owned by Zhejiang Geely Holding Group, No. 185 on Fortune’s Global 500 and founded by Li Shufu in 1986. Geely Automobile Holdings is the group’s Hong ...
Volvo Cars will merge its engine development and manufacturing assets with those of parent Geely, creating a division to supply in-house brands Lotus, LEVC, Lynk and Proton, and also potential ...
Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars. 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 ...
Geely bought the Swedish brand 10 years ago for $1.8 billion - a deal that raised its international profile and sent shockwaves through the global auto trade. Fuelled by Volvo, China's Geely seeks ...