Chinese car maker buys Volvo

Volvo has been bought from the Ford Motor Company by the Chinese car maker Geely in a deal worth more than €1.3bn.

Chinese car maker buys Volvo
Mon, 29 Mar, 2010 - 08:23

Volvo has been bought from the Ford Motor Company by the Chinese car maker Geely in a deal worth more than €1.3bn.

The Chinese company says it will keep Volvo's manufacturing plants in Sweden and Belgium, but it's considering opening factories in China for the local market.

Volvo Cars employs around 22,000 people worldwide, including 16,000 in Sweden.

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CourtsBusinessHeathrowPlace: SwedenPlace: BelgiumPlace: ChinaPerson: GeelyOrganisation: VolvoOrganisation: Ford Motor CompanyOrganisation: Volvo Cars
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