|
|
|
Chinese Automaker potential Buyer for Ford's Volvo Brand
Filed under: Opinion, Volvo
|
Ford purchased the Swedish marquee Volvo in 1999 for $6.45 billion in order to add it to its now defunct Premier Auto Group, which cnce consisted of Jaguar, Land Rover, and Aston Martin.
Though the brand has contributed much in terms of safety technologies, motor development, and even chassis development, it has not been a profitable acquisition.
Ford's recent financial problem have seen it unload the PAG to buyers, it now seems lone remnant Volvo may be next. Guangzhou Automotive Industry Corp, already in joint-venture partnerships with Honda and Toyota, may go one step further and make a bid on Volvo to bring it into its product portfolio.
Our take? Somehow an Indian brand buying Jaguar and Land Rover seemed almost fitting, and not as drastic a change as there could have been, especially as they were once part of the British Empire. Chinese Volvos however, just seem out there.
via Forbes
|
|