When Did Geely Acquire Volvo?

[DeErin]

Geely completed the acquisition of Volvo on August 2, 2010. Here is an introduction to Geely: 1. Geely Group: Geely Automobile Group is a subsidiary of Zhejiang Geely Holding Group, headquartered in Hangzhou, Zhejiang, China. It has established vehicle and powertrain manufacturing bases in Taizhou/Ningbo (Zhejiang), Xiangtan (Hunan), Chengdu (Sichuan), Baoji (Shaanxi), Jinzhong (Shanxi), and other regions, as well as overseas factories in countries and regions such as Belarus. 2. Domestic Leader: Geely Automobile Group currently owns the Geely, Lynk & Co, Geometry, and Volvo brands, holds a 49.9% stake in Proton with full management rights, and possesses a 51% stake in the luxury sports car brand Lotus.

[DelTanner]

I remember very clearly that in 2010, Geely bought Volvo from Ford. It was right after the financial crisis, and Ford was in a hurry to offload its burden, so Geely seized the opportunity to make the acquisition. This was quite a sensation—it was the first time a Chinese automaker acquired an international big-name brand. At the time, I saw a lot of discussions in car enthusiast groups, with people saying how beneficial this would be for enhancing the image of Chinese cars. Later, Volvo's technology also helped Geely a lot, especially in areas like safety systems and electrification.

[LeZachary]

That deal was completed in 2010, and I remember the details were that the agreement was officially signed in March. Geely's move to buy Volvo was fundamentally aimed at leveraging an international brand to turn things around. Look at how Volvo's sales in the Chinese market doubled after the acquisition, and new models were launched. I think this move was particularly smart, given the fierce competition in the auto industry—only by integrating resources can you win.

[OIris]

Back in 2010, Geely acquired Volvo. It's pretty straightforward—Ford couldn't sustain it and sold, while Geely immediately upgraded the production lines after taking over. I bet many people focused on new car releases like the XC90, which later became best-sellers, proving the acquisition strategy was correct.