How much stake did Geely acquire in Volvo?
2 Answers
Geely purchased 100% of Volvo Cars' equity from Ford Motor Company. The reason for the equity transfer from Ford was that Volvo had sold its equity to Ford one year before being acquired by Geely. Below is an introduction related to Geely: Geely Overview: Founded in 1986, Geely Automobile is a brand under China's Geely Holding Group and ranks among the top ten in China's automotive industry. On December 23, 2009, it successfully acquired 100% of Volvo Cars' equity. Geely Automobile Models: China Geely Holding Group currently has more than 30 models across seven series, including Geely Haoqing, Meiri, Ulion, SRV, Beauty Leopard, Maple, and Free Cruiser.
I remember that Geely acquired 100% of Volvo's shares in 2010 for approximately $1.8 billion. This acquisition marked the first time a Chinese automaker purchased an internationally renowned brand, breaking the monopoly of European and American brands. As someone who has long followed the automotive industry, I particularly appreciate the aftereffects of this deal: Volvo maintained its leadership in safety technology with Geely's support and launched popular models like the XC90, enhancing its global competitiveness. This was not only a commercial success but also inspired the globalization ambitions of other Chinese automakers, changing the market landscape.
