Friday, March 29

Tag: geely

Volvo Cars and Its Chinese Owner Plan to Merge
Automobile

Volvo Cars and Its Chinese Owner Plan to Merge

Sweden's Volvo Cars and its Chinese owner Geely said they are considering merging into a single group to better share technology and financial resources while preserving their separate brands. The merged firm "would have the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry," they said in a statement. "The combination would preserve the distinct identity of each of the brands Volvo, Geely, Lynk & Co, and Polestar," they added. Geely bought Volvo in 2010 from Ford which hadn't been able to turn around the Swedish automaker. But under the Chinese firm Volvo has rebounded and smashed its sales records. Volvo sold more than 705,000 vehicles in 2019, besting the record it set in 2018 by 10 percent, and the automaker expects c...
VOLVO: Turnaround of World’s Oldest Startup In The Business
INSPIRATIONAL

VOLVO: Turnaround of World’s Oldest Startup In The Business

VOLVO, a name risen from ashes; not in a fortnight but took years to grow and build its reputation. Volvo  meaning "I roll" in Latin was started back in  May 1911 with the intention to be used for a new series of SKF ball bearings, which was later registered under "SFK" itself and didn't last long. (more…)