CAR TECH
Geely Automobile mulls ways to collaborate with Volvo

by Staff Writers
 Hong Kong (AFP) Dec 31, 2009
 Geely Automobile said Thursday it will look at ways to collaborate with Volvo once its parent group completes the acquisition of the loss-making Swedish brand from US auto giant Ford.

Gui Shengyue, Geely Automobile's executive director, said its parent initially planned to develop Geely Automobile and Volvo as separate brands.

"But when the timing is right, we will find a suitable point of collaboration," he told a press conference in Hong Kong.

Injecting the Volvo operation into Geely Automobile remains parent Geely Group's ultimate goal, Dow Jones Newswires quoted Gui as saying.

Geely Automobile would consider supporting Volvo on strategic development and financing, he also said.

Zhejiang-based Geely Group, one of China's largest private carmakers, and Ford announced last week they had agreed on the main terms of Volvo's sale.

Gui said the acquisition had the backing of the Chinese government and was expected to be completed in the first quarter of 2010.

Overseas demand would support the long-term growth of China's auto industry, he added.

"The auto mobile industry in the domestic market will continue to grow in the next two years. After that, its growth will mainly come from its overseas markets."



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
 Car Technology at SpaceMart.com

CAR TECH
Chinese car park makes space for women only
 Beijing (AFP) Dec 28, 2009
 A shopping centre in China has opened a car park that offers women drivers bigger-than-normal parking spaces to accommodate what it sees as their special needs. Wang Zheng, an official at the Wanxiang Tiancheng shopping centre in Hebei province's Shijiazhuang city, told AFP Monday the women-only parking lot aimed to address women's "strong sense of colour and different sense of distance." ... read more
The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement