Ford names Geely preferred Volvo cars bidder

[neshapop]

LONDON (Reuters) – Ford (F.N) named a consortium led by China's Zhejiang Geely Group Holding Co. as preferred bidder for its loss-making Swedish unit, Volvo Car Corp., but said more detailed talks were needed before any final agreement.

The announcement moves the long-running sale, which began in December, closer to a conclusion, and signals that intellectual property concerns, which threatened to derail the deal last week, may have been overcome.

But it could be months before a final deal is reached -- Ford named Tata Motors as preferred bidder for Jaguar and Land Rover in January 2008, and reached a final accord in March of that year.

Ford did not disclose a possible sale price, but media reports have put it closer to $2 billion than the $6.45 billion it paid for Volvo in 1999.

Sources familiar with the matter have said a U.S.-led group including former Ford director Michael Dingman, the Crown consortium, and Beijing Automotive Industry Holding Corp (BAIC) were among other potential suitors.

More...

http://news.yahoo.com/s/nm/20091028/bs_nm/us_ford_volvo

[LeSabre]

I hope this doesn't work out in the middle or the end.

I, for one would not consider a Chinese owned Volvo.
I do not want the Chinese selling their products here, at least not until their domestic car manufacturers stop copying vehicle designs from other car manufacturers the world over.
This copyright infringement that has been going on there has got to stop NOW!!


!!!!

[Simon says]

Finally . . . they sure took their sweet ol' time.

[LeSabre]

Originally Posted by Simon says

Finally . . . they sure took their sweet ol' time.

The sale isn't a done deal yet.
Hopefully it will fall through.


!!!

[Simon says]

Originally Posted by LeSabre

The sale isn't a done deal yet.
Hopefully it will fall through.


!!!

I hope they conclude it quickly and swiftly and can move on to better things.

[Ach]

Not sure about this. How long before Geely vehicles show up at Volvo dealers? And why give them instant credibility on safety and quality?

[jzchev28]

Originally Posted by Simon says

I hope they conclude it quickly and swiftly and can move on to better things.

no no no. sure it will help ford in the short term, but long term this will hurt us all...just like hummmer

[joemac]

Originally Posted by LeSabre

I hope this doesn't work out in the middle or the end.

I, for one would not consider a Chinese owned Volvo.
I do not want the Chinese selling their products here, at least not until their domestic car manufacturers stop copying vehicle designs from other car manufacturers the world over.
This copyright infringement that has been going on there has got to stop NOW!!


!!!!

If they buy Volvo they would no longer need to steal intellectual property to gain insight to technology, specifications, and process. They will own it then. They've already got Hummer. They've been stealing aeronautical, space, and military weaponry information and patients for years. Now they have our wealth after years of exporting to the US, good job America, and now they can sit back and buy up what they want. We've been sold out by our own corporations and government officials in the Congress.

Too bad most in this country don't care what happens next week, next year, or next decade. But when when a communist nation such as China is ramping up military, recently navy with aircraft carriers and submarines, it doesn't bode well for our future as a nation when soon they will have the ability to park a sub off the coast of California.

[2b2]

Originally Posted by neshapop's quote

"...Sources familiar with the matter have said a U.S.-led group including former Ford director Michael Dingman, the Crown consortium, and Beijing Automotive Industry Holding Corp (BAIC) were among other potential suitors...

IMHO / if necessary
I'd prefer to see the U.S. group make a joint deal...
with Geely ONLY building Chinese market Volvos

[Bravada]

What to expect from Geely - insight from Geely's Chairman and Founder:

“Making cars is not as mysterious as people think,” he has said in the past. “A car is merely four wheels, a steering wheel and an engine."

Source: China Car Times

[jzchev28]

well ive got some spare parts in my garage, perhaps i should become a auto manufacture

[ohmywrd8]

This better fall through. And if it doesn't, they need to turn Lincoln around. Oh this just flusters me!

[chinamonty]

Originally Posted by joemac

If they buy Volvo they would no longer need to steal intellectual property to gain insight to technology, specifications, and process. They will own it then. They've already got Hummer. They've been stealing aeronautical, space, and military weaponry information and patients for years. Now they have our wealth after years of exporting to the US, good job America, and now they can sit back and buy up what they want. We've been sold out by our own corporations and government officials in the Congress.

Too bad most in this country don't care what happens next week, next year, or next decade. But when when a communist nation such as China is ramping up military, recently navy with aircraft carriers and submarines, it doesn't bode well for our future as a nation when soon they will have the ability to park a sub off the coast of California.

My they did study America well.
Not so sure about the aircraft carrier though. They are starting to design one but the only one they have that I have heard about is the Minsk in Shenzhen as a tourist attraction (and to be studied for design purposes). They certainly haven't manufactured any carrier based planes yet (at least none have been seen) but that doesn't mean they aren't in the process.
In the same way that the military is a big source of employment in America it is also a pretty useful industry to have around when you have 1.3 billion people to keep occupied so it is no surprise to me that they have large armed forces though they probably aren't as big as people imagine.
How much intellectual property does Volvo own anyway. I would have thought their invention were old now and in the public domain. Recently designs would use Ford owned IP I would think.

[YupYupYup]

In related Ford news, saw the line up of Fiestas downtown today. Bunch of young guys driving them around and parking in high-traffic areas, as per their marketing strategy. I cannot say I am impressed. The vehicle's design is a lot of hype. Nothing groundbreaking....Nice, but nothing spectacular as some would make it out to be. A stripper was there and it looked cheap in areas...Full trim, too, but it looked quite pedestrian. Most people did not do double takes. Although, I currently live in a city that loves expensive cars.

[RamJet502]

Originally Posted by YupYupYup

In related Ford news, saw the line up of Fiestas downtown today. Bunch of young guys driving them around and parking in high-traffic areas, as per their marketing strategy. I cannot say I am impressed. The vehicle's design is a lot of hype. Nothing groundbreaking....Nice, but nothing spectacular as some would make it out to be. A stripper was there and it looked cheap in areas...Full trim, too, but it looked quite pedestrian. Most people did not do double takes. Although, I currently live in a city that loves expensive cars.

Cheap stripper, sounds like a good bachelor party!