While a cure for Sweden’s turbulent, American-owned auto industry is nowhere in sight, things may be getting a little better – or worse – in Volvo’s hometown of Gothenburg. Reports out of the Nordic country indicate that a deal for Chinese automaker Geely to acquire Volvo could be announced as early as tomorrow.
Vaestnytt, a Swedish television channel, reported that Geely and Ford have been meeting in London to discuss the sale and that an agreement is very close. Geely would be acquiring Volvo mainly for the automaker’s technology and experience, as well as its European and North American distribution networks. Vaestnytt says that the sale could be valued at 15 billion kronor, or about $2 billion.
Sweden’s TT news agency says that Geely wants to have the sale wrapped up before next February in time for the Chinese New Year.
12/22, 4:41 PM
posted by:
MrTreize
VW would have been a better fit for purchasing them.
12/22, 4:49 PM
posted by:
ChuckTown86
Which Volvo is that is the picture. I thought it was the new S60, but the front facia and side-view suggests a facelifted S80. Can anyone confirm?
12/22, 4:49 PM
posted by:
ChuckTown86
Which Volvo is that in the picture. I thought it was the new S60, but the front facia and side-view suggests a facelifted S80. Can anyone confirm?
12/22, 6:02 PM
posted by:
JakeK66
It’s the new production S60 in a different color. The S60 is essentially a smaller wheelbase S80 with newer looks in the front and back to match the new Volvo style seen on the XC60 (which itself is very similiar to the S80). They share alot of parts with one another.
12/22, 6:14 PM
posted by:
leftwingagenda
which volvo is that? it’s the boring mcboring, confirmed!
12/22, 6:18 PM
posted by:
Jubb
That picture is a render of the 2nd gen S60 before it was released. Notice old Volvo styling ques like the small badge.
12/22, 6:22 PM
posted by:
johnnycanuck
… and to think before he bought one Jake thought Volvo referred to Nordic woman’s naughty bits.
12/22, 6:27 PM
posted by:
steve333
Goodbye Volvo. I would never buy a Chinese owned vehicle. Anyone who does needs his head examined, or will get it examined anyway in the autopsy after the brakes fail.
12/22, 6:36 PM
posted by:
Jubb
+ headlights lifted from the XC60 concept. Volvo’s new design language under Steve Matin (who has left Volvo?) is great but LLN could have at least used the Swedespeed render of a proposed S60R based off official pictures, at least it spares viewers the unfortunate orange paint scheme of the original.
12/22, 6:59 PM
posted by:
JakeK66
I thought it was the British naughty bits too – but my then gf didn’t appreciate me checking the oil every 6 months.
12/22, 8:44 PM
posted by:
Borat
Jake, for goodness sake checking oil once every 6 months – your dipstick will get rusted. Young man, get away from internet and do some dipping!
12/23, 1:19 AM
posted by:
wideopenthrottle
WTF getting parts is gonna go from a pain in the @ss to impossible.
12/23, 9:33 AM
posted by:
swamprat
That car looks like a 1997 Pontiac Grand Prix. What a joke.
12/23, 9:53 AM
posted by:
85ZingoGTR
@ MrTreize – Why would VW want Volvo? They already have Audi which is a much better car.
@ Everyone else – Im giving giving Geely a chance. Not like our domestic brands (excluding Ford) are any better.
12/23, 5:28 PM
posted by:
tastyorange
sigh… I’m not liking this new generic Volvo style… so boring and derivative. Looks like everything else.
I liked the brick. They should have brought back that basic shape and updated it.
I guess it doesn’t matter…. I won’t be giving more of my money to China than I have to.
12/24, 4:23 PM
posted by:
TOZO
Coming sold: Volvos with bodies made out of paper, tires made of cheap defective rubber, seats and paint that are poisonous to come into contact with, and engines and transmissions that fall apart. So much for safety.
12/24, 4:24 PM
posted by:
TOZO
soon, not sold