With Geely’s rumored February 8 deadline to acquire Volvo long a thing of the past, some questions have arisen about the Chinese automaker’s ability to make good on the deal it tentatively made with Ford . However, the company’s chairman, Li Shufu, reaffirmed that “everything is moving as planed.”
“We haven’t reached a final agreement so far,” Li told reporters at the National People’s Congress in Beijing on Friday. Unlike a fellow Chinese company’s stymied plans to buy Hummer from General Motors, Li says that Geely has encountered “no difficulties.”
Geely has been silent on its acquisition deadline, but Reuters says that it saw a document suggesting that the Chinese automaker will buy Volvo for up to $2 billion by May. That deal would almost certainly include Volvo’s latest model, the brand new S60 sedan that debuted last week at the Geneva Motor Show.
References
1. ‘Geely’s Volvo talks still…’ view
