Volvo, Saab, VW Made in China
Posted on December 28, 2009 by Shay Greenberg for Luckyroom.com
The Americans ‘are leaving’ the Swedes: Ford is selling Volvo to the Chinese Geely, at the same time that General Motors is oriented to the closure of Saab, despite a new, revised bid from the Dutch Spyker Cars. GM was the sole owner of Saab for ten years, whereas before, GM had to control 50% of the Swedish car company.
Somewhat similar was the “fate” of Volvo, of which for ten years, Ford was in control. In the case of Volvo, however, the story was much more successfully, through its sale to a Chinese company to be a rather sensitive issue: China has overtaken the United States, making it the largest car market in the world, with Chinese companies “hungry” for new technologies, hoping to strengthen their competitiveness.
Meanwhile, Beijing Automotive has an agreement with Saab to exploit technology engines and gear lever of the Swedish car company. Similar agreements between East and West car makers are seen as a coping strategy for the general car insurance so that managed to meet the limited demand and stricter environmental regulations.
The following are some of the agreements between East and West companies discussed this year.
* American Hummer and Chinese Tenzhong: In June 2009, the Sichuan Tengzhong Heavy Industrial Machinery take over the bid for Hummer, a subsidiary of GM. The deal is expected to be completed in early 2010.
* French Peugeot and Citroen and Japan’s Mitsubishi Motors: In early December, the two sides discussed the possibility of greater cooperation in order to create a “pioneer” in electric cars. But the head of Mitsubishi Motors retreated, declining to discuss the possible purchase of company shares from Peugeot.
* Japanese Suzuki and Volkswagen of Germany in early December: The German VW has acquired 20% in Suzuki, which in turn ensures share of VW, with an agreement to provide a significant presence for VW in emerging markets and especially in India.
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