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Authors:
Published by:
Amity Research Centers (2010)
Length:
13 pages
Data source:
Published sources
Abstract:
Geely, one of the largest private-run car makers of China, signed an agreement to take over Ford Motor's Volvo car unit for $1.8 billion in March, 2010. This might make the company as a main player in the global automobile industry. The company planned to sell Volvo cars mainly in the markets of Europe and North America. Apart from that, it focused to expand the business into the markets of developing countries. However, experts and market analysts pointed out that Geely might face some strong challenges due to this acquisition. They were concerned regarding the safety standards of the Volvo cars. Further, industry experts highlighted that the company might struggle to protect Volvo's global brand image because the latter was famous for manufacturing strong and reliable cars. The labour unions also raised the viability of this takeover and according to them this acquisition might harm the unions and Volvo employees. The market researchers were also concerned about the expected selling capacity of made-in-China Volvo because traditional Volvo cars were known for high safety standards and careful manufacturing. So, it remained to be seen whether Geely's acquisition of Ford Motor's Volvo car unit would be a successful venture in future.
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