CAR TECH
China's Geely to own Volvo technology: report

by Staff Writers
 Beijing (AFP) Nov 27, 2009
 Chinese auto group Geely said Friday it has reached an agreement with US auto giant Ford on intellectual property rights in its bid for Volvo Cars, Dow Jones Newswires reported.

Zhejiang Geely Holding Group said it will own the intellectual property rights to Volvo's key technologies, including those related to safety and the environment, through its purchase of the loss-making auto maker.

Ford said in October it had tapped Geely as the preferred bidder for its Volvo Cars nameplate and would step up negotiations with a consortium led by the Chinese automaker.

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