Saab and Volvo selling out
Posted on December 23, 2009 by John Trevors for Luckyroom.com
Ford Motor will announce further progress in the next few days, in talks to sell the Swedish Volvo to Chinese Zhejiang Geely Holding Group. Rumors are that they are ongoing through negotiations said the two sides but very near to an agreement. The protection of intellectual property and the future of the Volvo factory in Sweden and Belgium are among the issues that are on the table. Ford has said that both sides will work together to reach an agreement by which both come out winners.
Meanwhile the agreement for Saab seems to be “stuck” as General Motors also is considering the new offer coming from Dutch Spyker Cars. Although initially Spyker had put a deadline for the evening of December 21 to General Motors, Spyker removed that obstacle by giving extension rekindling expectations for rescue of the Swedish automotive subsidiary of General Motors. The Swedish government, however, is closely monitoring the talks on the future of both industries.
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