Volvo Finally Goes Chinese
Written by: RichardNews has just come through that Volvo is finally going Chinese after months of speculation.
It has just been formally announced that the other iconic Swedish car maker has been sold by its current owner- The Ford Motor Company- to Geely of China, but at a huge loss to Ford.
They purchased it twenty years ago for nearly ten billion dollars, but will collect just over four billion dollars from Geely, and they have suffered some huge losses in the interim.
Due to Chinese red tape the ......
