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Geely Boss Says Volvo Purchase Still On Track Photo:
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Mike Stevens | Mar, 08 2010 | 0 Comments

SPEAKING WITH PRESS at the National People's Conference in Beijing this week, Geely chairman Li Shufu said that while a deal on its purchase of Volvo was expected last month, discussions with Ford are going as planned.

"We haven't reached a final agreement so far," Li told reporters on Friday.

He added: "Everything is moving as planned."

Confirmed by Ford in October last year as the preferred buyer for the Swedish brand, Geely has said that it will not seek to make extensive changes to Volvo's management, allowing the Gothenburg-based carmaker to manage itself autonomously.

While the American carmaker does not intend to retain a stake in Volvo, it will continue to work with the Swedish manufacturer on model development, technology and component sharing.

The sale is expected to take some time, with much of Volvo's processes tied into projects across Ford's manufacturing, including much of the American carmaker's safety systems.

Volvo unveiled its new S60 sedan at Geneva last week, with a local debut expected later this year.

The Geely brand itself will also get an Australian launch, its MK light car and EC7 small car to be imported by WA company Chinese Automotive Distributors.

 
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