China's Geely Updates its GE Rolls Royce Lookalike for the Beijing Auto Show

Volvo's new owner and China's top private automaker, Geely Automobile, has revealed a reworked version of its GE limousine prototype that drew attention last year for its... passing resemblance to the Rolls Royce Phantom.

For whatever reasons, Geely decided to modify the design of the 5.29 meter or about 17.3-foot long executive limo making it look more Chinese and less British.

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Geely Chairman Promises To Liberate Volvo from its Capitalist Owner / Oppressors

Zhejiang Geely Holding Group Chairman Li Shufu recently had this to say about Volvo and its $1.8 billion purchase from Ford Motor Company: "A tiger belongs to the forest. It belongs to the wild world and not confined in a zoo. We need to liberate this tiger." Anyone else see the irony?

According to Autonews, Li was referring to Volvo's dependence on Europe for production and Europe and North America for the most part of its sales.

Geely's chairman believes that this issue will be solved by building a factory in Beijing, China, that will make 300,000 Volvo cars a year, or about the same amount the automaker currently produces at its plants in Sweden and Belgium

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Ford Seals Deal with China's Geely, Sells Volvo for $1.8 Billion

For better or for worse, Ford Motor Company has finalized a deal to sell Volvo Cars and related assists (primarily intellectual property) to Chinese automaker Zhejiang Geely Holding Group Company Limited for US$1.8 billion (€1.35 billion at today's exchange rates).

The Detroit company said that the transaction will be made in the form of a note in the amount of US$200 million and the remainder in cash.

It's worth noting that Geely has acquired Volvo at a fraction of what Ford paid for the Swedish automaker at $6.5 billion in 1999.

Ford said that even though Geely owns 100 percent of Volvo, due to the fact that the Swedish automaker's cars share core components and technologies with its own vehicles, it will continue to supply the company with powertrains, stampings and other vehicle components for an undefined period.

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