When Did Geely Acquire Volvo?
3 Answers
Geely acquired Volvo in 2010. Here is some relevant information about Geely Automobile: 1. Logo Meaning: The new logo of Geely Automobile brand continues the design concept of six gemstones from the Brand 3.0 era. Taking the expanding universe as the design origin, it incorporates silver starlight, deep space gray, and earth blue, showcasing Geely Automobile's upgrade from the blue sky and earth of the Brand 3.0 era to the pursuit of the vast universe. 2. Subsidiary Brands: Geely Automobile Group currently owns the Geely Automobile brand, Lynk & Co brand, Geometry brand, Proton brand, and Lotus brand.
I still remember the big news on March 28, 2010, when the entire automotive industry was buzzing. Geely's chairman Li Shufu spent $1.8 billion to acquire Volvo, the Nordic luxury brand, from Ford—it was like a poor boy marrying a princess. That year, I had just started as an automotive editor and vividly recall working overnight at the newspaper to meet the deadline. The most amusing part was when a Volvo engineer later confided in me that during lunch breaks at their factory, employees were passing around Geely's "Corporate Culture Handbook," and even Swedish meatball lunch conversations were dominated by the Chinese boss. The most impressive outcome of this acquisition was the development of the CMA platform, which later helped the Lynk & Co 01 become a viral hit.
Did some research and found that Geely signed the acquisition agreement in 2010, with the ownership transfer completed in August. At the time, many European media outlets were pessimistic, but now the results are proving them wrong. Over the past two years while renting cars in Germany, six out of ten Volvos were Asia-Pacific versions. The most surprising moment was last year at the Gothenburg Museum, where they used holographic projection to display the pen Li Shufu used to sign the deal—simply legendary. Doing the math, Volvo's global sales were only 300,000 at the time of acquisition, but now they're close to 800,000, with the XC60 becoming the standard choice for Europe's middle class.
