Volvo
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Geely wants Volvo to compete with top-end BMWs Automotive News Europe -- August 3, 2010 06:01 CET LONDON (Reuters) -- Geely, the new Chinese owner of Volvo Cars, wants the Swedish carmaker, best known for its safety, to build cars that compete with the most expensive BMW and Mercedes sedans, its founder and chairman said. In an interview hours after Geely's $1.5 billion purchase from Ford Motor Co. closed on Monday, Li Shufu said he sought to boost Volvo's profile in China and step up research and development, while a modest sales increase would be enough to tip the company back into profit. The closing of the takeover by Zhejiang Geely, parent of the Hong Kong-liste…
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2007-2010 Volvo S80 recalled for tire-pressure monitoring system by Jeremy Korzeniewski (RSS feed) on Aug 2nd 2010 at 4:31PM The ever-conscious safety fanatics at Volvo have realized it's unwittingly made a mistake on their 2007-2010 S80 sedans. It seems that the maximum permissible tire pressure information was printed incorrectly in the owner's manuals and on the sticker pasted to the vehicles' door jams. Worse, that same incorrect inflation data is hard-coded into the cars' tire-pressure monitoring systems. Volvo claims that it has never received any complaints on the issue and that it found the problem on its own. Naturally, though, the Swedish automaker is keenly …
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Ford completes sale of Volvo to China's Geely Paul McVeigh Automotive News Europe -- August 2, 2010 07:46 CET Ford Motor Co. said today it has completed the sale of Volvo Cars to China's Zhejiang Geely Holding Group for $1.8 billion. Divesting Volvo completes Ford CEO Alan Mulally's strategy of exiting European luxury brands to focus on the core Ford brand, following the U.S. carmaker's 2007 sale of Aston Martin, and of Jaguar and Land Rover to India's Tata Motors Ltd. in 2008. Ford paid $6.5 billion for Volvo in 1999. “Volvo is an excellent brand with a strong product line, and it has returned to profits after a successful restructuring. We are confident Volvo ha…
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Geely unveils Volvo's new board The Detroit News Zhejiang Geely Holding Group announced the members of the new board of Volvo Cars Monday after completing the acquisition of the Swedish carmaker from Ford Motor Co. Chairman Li Shufu , founder and chairman of Zhejiang Geely Holding Group. Li was born in Taizhou City, Zhejiang Province, in 1963. He holds a bachelor's degree in management engineering from Harbin University of Science & Technology, and a master's degree in mechanical engineering from Yanshan University. Li is vice chairman of the China Association of Automobile Manufacturers and a member of the National Committee of the Chinese People's Political Con…
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Geely names VW's Jacoby to head Volvo Paul McVeigh Automotive News Europe -- August 2, 2010 14:07 CET Zhejiang Geely Holding Group today named Volkswagen's Stefan Jacoby as CEO of Volvo Cars, after completing its acquisition of the Swedish brand from Ford Motor Co. for $1.8 billion. Jacoby, 52, will take up his role on August 16, succeeding Stephen Odell, 55, who will become head of Ford of Europe. Odell, a Ford veteran, will succeed John Fleming, 58, who will focus on leading Ford's global manufacturing and labor affairs. Jacoby had been Volkswagen's top U.S. executive since September 2007. He said in a statement today that Volvo employees, suppliers, dealers and …
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BREAKING: Ford officially sells Volvo to Geely for $1.8b by Damon Lavrinc (RSS feed) on Aug 2nd 2010 at 7:46AM After months of protracted negotiations, Ford has officially sold Volvo to Zhejiang Geely Holding Group Company Limited – aka Geely – for $1.8 billion. The Chinese automaker originally included a $200 million note and the balance in cash, and today, it paid the remaining $1.3 billion to wrap up the sale, although the final sale price won't be released until later this year and could put more cash in the pockets of FoMoCo. Under the terms of the sale, Ford will continue to supply Volvo with everything from powertrains to stamping systems and other vehicle comp…
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Volvo CEO says China plant is key to success under Geely Automotive News Europe -- July 30, 2010 12:32 CET STOCKHOLM (Bloomberg) -- Volvo Car Corp.'s success after its sale to Zhejiang Geely Holding Co. will hinge on building a manufacturing plant in China, the Swedish carmaker's CEO said. “When you look at the car industry in China, if you want to be even a 2 percent player there -- and 2 percent is not a bad aspiration -- you have to have local manufacturing,” Stephen Odell said in an interview late yesterday. “We already have local manufacturing through a contract party, but it's clear Volvo needs more capacity to grow.” Volvo builds its S40 and S80L models for the…
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China approves Geely's Volvo car purchase from Ford July 29, 2010 - 6:24 am ET BEIJING (Bloomberg) -- China's Ministry of Commerce said it has approved Zhejiang Geely Holding Group Co.'s purchase of Ford Motor Co.'s Volvo car unit, paving the way for completion of the $1.8 billion acquisition agreed by the two companies in March. The ministry signed off the deal recently, a ministry spokesman said by telephone today from Beijing. Geely agreed on March 28 to buy the Volvo car business from Ford, marking the biggest overseas acquisition by a Chinese automaker. Volvo is the latest premium European brand to be sold off by Ford CEO Alan Mulally, who has divested Aston Mart…
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Ford To Complete Sale Of Volvo To Geely Next Week Viknesh Vijayenthiran July 29th, 2010 Ford has confirmed back in March that it had reached a definitive agreement to sell Volvo and the Swedish automaker’s related assets to Zhejiang Geely Holding Group Company Limited (Geely). Since that time the sale has been subject to customary closing conditions, including regulatory approvals, but come next week the sale is expected to be finalized. The purchase price for Volvo and related assets (primarily intellectual property) is $1.8 billion, which will be paid in the form of a note in the amount of $200 million, and the remainder in cash. Under the terms of the sale, Ford w…
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Video: Volvo crowns Paris 'naughtiest' city in Europe as part of experiments tied to bizarre S60 launch by Zach Bowman (RSS feed) on Jul 28th 2010 at 2:59PM Some habits die hard. Swedish manufacturer Volvo has always been one for extensive research. The company's reputation for safety is based largely on its understanding of the mechanics of a collision thanks to impossibly thorough field studies. So it should come as no surprise that when we all thought Volvo was putting down the clipboard in favor of a cocktail glass by throwing a slew of parties in some of the world's most iconic cities, the carmaker was actually studying human behavior. Go figure. Why? The move was …
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Volvo XC90 reportedly under NHTSA investigation for intermittent lighting failures by Zach Bowman (RSS feed) on Jul 28th 2010 at 4:33PM The National Highway Transportation Safety Administration is investigating older Volvo XC90 models for potential faulty electronics that could cause the headlights and turn signals to fail. So far, the government isn't aware of any crashes resulting from the fault, but 21 owners have filed a complaint. The defect manifests itself on 2004-2005 XC90 SUVs, and NHTSA says that 93,487 vehicles are potentially impacted by the problem. Fortunately, should the NHTSA issue a recall, the problem is a relatively easy fix. Regulators say that simp…
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How Li Shufu turned Geely from target of criticism to Volvo's likely new owner July 26, 2010 06:01 CET DETROIT (Reuters) -- It was a miserable winter day in January 2007, the kind that makes auto executives in the Motor City wonder why they hold the Detroit auto show at the most inhospitable time of the year. Li Shufu, a farmer's son from China's Zhejiang province who last week become the unlikely chairman of Volvo Cars, was looking for some cheer from Ford Motor Co.'s finance chief Don Leclair in his office at Ford headquarters. A year earlier, a new model made by his company Geely, which means auspicious in Mandarin, had made an unfortunate debut at the Detroit show…
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Geely's Li Shufu to head new Volvo Cars board Christine Tierney / The Detroit News Li Shufu, the founder and chairman of Zhejiang Geely Holding Group Co., will be the chairman of a new board for Volvo Car Corp. after the Chinese company completes the acquisition of the Swedish carmaker from Ford Motor Co. A former Volvo Chief Executive, Hans-Olov Olsson, will be the vice chairman of Volvo Cars, the Chinese company said today. "We have made significant progress in assembling the team that will develop Volvo Cars under Geely's ownership," Li said in a statement. Zhejiang Geely is in talks to hire Stefan Jacoby, most recently head of Volkswagen's U.S. operations, to be …
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Geely wins EU OK to buy Volvo Chinese automaker cleared to buy Ford's Swedish arm, giving it a foothold in Europe The Detroit News Brussels -- European Union regulators on Tuesday cleared Chinese carmaker Geely to buy Ford Motor Co.'s Swedish carmaker Volvo Cars. The European Commission said it had no antitrust objections to Zhejiang Geely Holding Co.'s $1.8 billion purchase of Volvo Cars, based in Gothenburg. Geely sells hardly any cars in Europe and Volvo has "very limited" operations as a car parts supplier, it said. Geely's acquisition of Volvo has been heralded as a breakthrough deal for China's auto industry, giving one of its most ambitious automakers a prest…
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Officially Official: Volvo V60 sports wagon gets (surprisingly) rockin' intro [w/video] by Zach Bowman (RSS feed) on Jul 5th 2010 at 12:30PM Breaking Volvo has just sauntered into the battle to convince the world that wagons are as cool as they are functional with a new launch video for the company's very sexy V60 long-roof. The car's hobbies appear to be rocking out across the open desert and hustling family and cargo across town in a hurry. Globally, the company is offering a number of engines in the V60, including a new 2.0-liter direct-injection turbo-diesel with around 203 horsepower and 221 lb-ft of torque. Sadly, we wouldn't exactly hold your breath waiting for t…
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GEELY: 150K YEARLY VOLVO SALES IN CHINA BY 2015 By Mark Kleis Volvo – the Swedish brand long known for leading in the industry with its safety innovation – is now headed for new ownership, and the new owners have big plans for even bigger volume in the near future. Although Geely has not yet picked a location to build the future plant that will be responsible for additional local production of Volvo vehicles in China, the automaker has picked a number that it believes will represent its annual sales in less than five years -150,000 vehicles, according to Reuters. The same report says that Geely has put both Beijing and Ningbo are likely candidates for a future Volvo m…
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Report: Volkswagen's Stefan Jacoby coming to Volvo in August by Damon Lavrinc (RSS feed) on Jun 24th 2010 at 2:15PM According to a report out of Germany, President and CEO of the Volkswagen Group of America Stefan Jacoby is set to leave the automaker this August to take the top spot at Volvo. Jacoby, who has led VW's U.S. arm since 2007 and enjoyed a brief stint at Mitsubishi Motors Europe, is set to replace Volvo's current CEO Briton Stephen Odell. Odell will reportedly become the new head of Ford's European operations when Jacoby takes over the Geely-owned Swedish marque in August. link: http://www.autoblog.com/2010/06/24/report-volkswagens-stefan-jacoby-coming-to-…
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Limited Edition Volvo V70 T6 AWD R-Design with 325HP by Heico Sportiv TUESDAY, JUNE 22, 2010 Heico Sportiv has been putting together more stylish and powerful Volvos for over a decade. Now, the tuning firm has once again joined forces with Volvo to create a special edition version of the V60 T6 estate for the German market. It goes on sale this summer with a hefty €70,193 [about US$87,000] price tag in a limited run of just 100 copies, all in a metallic sapphire black shade. This V70 T6 AWD R-Design is motivated by the firm's 3.0-liter turbocharged inline-6 upgraded with a recalibrated ECU and a sport exhaust system that cranks out 325HP and a maximum torque of 460 Nm…
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Worldwide Recall for 2010-2011MY Volvo C30, S40 and V50 MONDAY, JUNE 21, 2010 Volvo announced on Monday that it will recall 29,299 cars worldwide of which 536 were sold in the USA and around 6,700 in Britain, over a problem with the gearshift lever. The cars in question are certain 2010-2011MY C30s and 2010MY S40 and V50 models equipped with 6 speed manual transmissions. According to the company, the gearshift lever stud assembly may not have been tightened to the correct specification during assembly which may lead to the ball-joint coming loose. If this occurs, it may not be possible to engage, disengage or shift gears. Volvo said that its dealers will torque the g…
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New Volvo S60 Coupe-Convertible Photo Real? TUESDAY, JUNE 15, 2010 A supposedly leaked picture of a Volvo S60 Coupe-Convertible based on the new sedan model, said to have been shot during some sort of internal presentation, has been making the internet rounds this morning. However, in this day and age of photoshop wizardry, you can't trust everything you see on the web. And judging from the picture of the standard S60 saloon that you can check out after the jump, we have serious doubts about its authenticity. Bypassing the clearly photoshoped 'shades' under the front bumper, the most telling elements about the legitimacy of the S60 Coupe-Convertible picture are the hi…
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Video: Autocar calls Polestar Volvo C30 a 'junior Nissan GT-R' by Steven J. Ewing (RSS feed) on Jun 7th 2010 at 7:22PM Polestar Volvo C30 – Click above to watch the video after the jump Earlier this year, Volvo and Polestar debuted the C30 Polestar Performance Prototype hot hatch, showing what would happen if a Swedish touring car were tuned down for road car use. It's a menacing little devil, what with its turbocharged 2.5-liter inline-five boosted to 405 horsepower, Haldex all-wheel drive, massive brakes and raft of other performance add-ons. The team at Autocar recently had the chance to flog the Polestar C30 around Volvo's proving grounds, saying that the hatch fe…
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Volvo-buyer Geely hires Ford's ex-global PR boss June 7, 2010 07:16 CET SHANGHAI (Reuters) -- Geely Holding Group, which is buying Ford Motor's Volvo car unit, has hired Kenneth Hsu, former global communications manager of the Detroit automaker to lead its global communication and brand promotion team. Hsu, an industry veteran who also served as vice president for Ford's China operations, assumed his new role at Geely last week, the Chinese company said in a statement over the weekend. In March, Geely, parent of Geely Automobile Holdings, signed an agreement to take over Ford's Volvo car business for $1.8 billion, marking China's largest overseas auto acquisition ever…
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Volvo may nab Saab boss as new CEO, report says June 2, 2010 09:16 CET STOCKHOLM (Reuters) -- Jan Ake Jonsson, chief executive officer of Saab Automobile, is one of the main candidates for the top job at Volvo Cars, a Swedish daily reported on Wednesday, quoting sources. Business daily Dagens Industri said Jonsson is among a "handful" of key candidates for the position at the Gothenburg-based automaker, and that contact with the Saab executive had already been made. Zhejiang Geely Holding Group, China's largest private carmaker and parent of Hong Kong-listed Geely Automobile, clinched a deal with Ford in March to buy Volvo Cars in China's biggest overseas auto purchas…
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2015 Volvo SC90 Sports Sedan Concept is Hot Friday, May 21, 2010 Technically sanctioned by Volvo, the S90 was thought up by Nouphone J. Bansasine while studying at the Volvo Monitoring and Concept Center. With a more aggressive nose and its fastback roof line, the slippery 4-door coupe would be a very welcome successor to the oh-so-bland S80. Something like the S90 could help Volvo reinvent itself as truly stylish, mid-range luxury in order to tackle the world. With the new S60 sedan already poised to fight the 3-Series, a car providing CLS looks at an E-Class price is definitely going to be necessary for Volvo to keep its momentum going. Since this is just a design…
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http://www.techeblog.com/index.php/tech-gadget/how-not-to-demonstrate-your-car-s-auto-brake-feature
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