Geely’s Volvo Investment Long-Term Play, Says Top Exec

Chinese automaker Geely saved Volvo in 2010, buying the on-the-rocks Swedish automaker from Ford for $1.8 billion, but speculation persists whether the acquisition will amount to a corporate raid.swe_cn_geely

Not in this case, Geely’s top executive in Sweden says, countering some Western notions of the automaker as a stereotypical Chinese investor seeking intellectual property for use back in Asia and looking to move production to a lower-cost country.

Read more: WardsAuto

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