Friday, March 05, 2010

Volvo deal wrapped up by end of month

Ford is still expected to sign an agreement to sell Volvo to China's Zhejiang Geely Holding Group by the end of this month according to the Brit in charge of the Swedish carmaker, Stephen Odell.
The sale is expected to be completed in the summer after which Volvo will continue to make beautifully designed, expects to finalise a deal by March 31 and complete the sale by June 30, says Headline Auto.
Odell added that he expects engineering and manufacturing to remain in Europe into the future. "I'm sure Geely will add manufacturing facilities for us in China which will boost opportunities for us in what has become the largest car market in the world."