28 December 2009

Volvo Cars will become Chinese...

It is now official that Ford will sell Volvo Car Corporation to the Chinese auto manufacturer Geely. To be more precise this is what Stephen Odell (Volvo CEO) wrote:
"Later today, Ford will confirm that all substantive commercial terms relating to the sale of Volvo Cars have been settled between Ford and Geely.
...while some work still remains to be completed before signing – including final documentation, financing and government approvals – Ford and Geely anticipate that a definitive sale agreement will be signed in the first quarter of 2010, with closing of the sale likely to occur in the second quarter, subject to appropriate regulatory approvals."

The information was sent out to us employees by e-mail in the afternoon before Christmas Eve, the biggest holiday in Sweden, so most people had already gone on vacation and probably first saw the announcement in the newspapers. Personally I think the timing should have been better for informing all the people working at Volvo Cars.

I have not found a lot of information in English speaking newspapers, but here is a short notice in Detroit News.

On a personal level I don't think this will affect my research project or my PhD studies at all.

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