Geely to complete purchase of Volvo by February

By Auto News Log • December 19th, 2009

Great news for at least one Swedish carmaker, as a source inside Geely has confirmed that the Chinese carmaker will seal the deal with Ford for its Volvo brand by the Chinese New Year, which falls on February 14.

“The Volvo deal sees no more hurdles,” revealed the source. “It is expected to be done before Chinese New Year, and then Geely will quickly launch integration.”

The same source has also revealed that Geely is quite serious about the deal and has already started its own internal review which studies the ways Volvo will be implented into Geely’s own operations, both in China and in other territories, like Europe.

This is definitely great news for Volvo fans, which will see the Swedish brand continue to launch new vehicles and further research new safety technologies. Hopefully we will hear good news about its fellow carmaker Saab, which is also looking for a buyer these days.

Source: Autocar


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