California Autos Examiner

Thursday, February 05, 2009

I'd Geely LIke To Own Volvo

Ford is rumored to be in talks with China’s Geely Automobile Holdings Ltd. to unload its Volvo division. Such a sale would not give Ford much in the way of actual cash as it has pledged Volvo as collateral when it secured a massive line of credit in 2006 (which in retrospect was a stroke of genius). This would, however, get rid of a money-losing operation and allow Ford to concentrate on its core, something the company has been working towards for some time now. Say what you will, no matter how things end up, Ford did get more from its relationship with its Swedish girlfriend than GM ever did with Saab.

source: Worldwide

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