• Dec 7, 2009
Just about every time an automaker decides to sell one of its brands, Chinese automaker Geely comes up as one of the potential suitors. Geely executive Lawrence Ang has reportedly told Automotive News that the reason Geely has been present at a lot of negotiating tables is because it wants to grow in part through acquisitions. And while the Chinese automaker has yet to finalize any big-ticket buys, it appears to be the front-runner for Ford's Volvo unit.

Earlier in the year, Geely looked into purchasing the Saab brand, but talks reportedly broke down after Koenigsegg presented what appeared to be the winning bid. But now that Koenigsegg has dropped out of the Saab sweepstakes, the door is open again for Geely. Is the Chinese automaker interested? Ang reportedly gave reporters at a shareholder event the ambiguous "who knows?" as an answer, but he also acknowledged that the company is investigating buying opportunities which have presented themselves during the automotive industry downturns in Europe and the States. Geely is also reportedly interested in purchasing parts and engines, which could be possible if General Motors decides to disband Saab if an adequate bid doesn't present itself by year-end.

While Geely appears to be close to purchasing Volvo and is perhaps in a good position to pick up Saab for a song, the automaker is also looking to increase its presence in its home market. Automotive News is reporting that Geely will increase spending by up to 43% in hopes of increasing sales from 300,000 in 2009 to over 400,000 next year.

[Source: Automotive News – subs req'd | Image: AFP/Getty]


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    • 1 Second Ago
  • 24 Comments
      • 5 Years Ago
      I'm telling you. They're like Voltron, put them together and they're more powerful than apart.
      • 5 Years Ago
      This may simply be an indication that Geely's Volvo bid is not going well, especially with the recent emergence of an American based competitor, whom Ford can trust on IP issues.
        • 5 Years Ago
        here come the hyundai trolls
      • 5 Years Ago
      It's worth noting that when one company is negotiating to buy another that it does "due diligence" wherein the company selling opens its kimono so that the potential buyer gets a look at its operations, finances, future plans, etc. Geely may be bidding on everything in sight as part of their learning process about the industry.
      • 5 Years Ago
      Any Chinese related thread here leads to bickering.
      matthew
      • 5 Years Ago
      If they sell the companies to the Chinese, let's home that the Chinese don't plan on selling the cars ANYWHERE but in China.

      If they want the brands, and the US can get some of the bond money that the Chinese bought trillions worth from us in the process, that's great. It'll be better than them crying for more bailout dollars from US taxpayers.

      However, to sell cars who's brands are owned by, or worse yet, are manufactured in China, would be the biggest slap in the face to the USA and Sweden.

      I mean, honestly, are there actually any people stupid enough to drive a Geely in the USA? Come on, seriously? I don't believe they exist.
        • 5 Years Ago
        @matthew
        There were people who bought Japanese cars in the 1970s, and people who bought Korean cars in the 1990s, so there will be people buying Chinese cars in the 2010s.
        matthew
        • 5 Years Ago
        @matthew
        John H.

        You miss my point. I own two Japanese cars. I love Japan.

        I despise China.

        Why? China owns trillions of dollars of US debt. They undermine our economy, take our jobs(because we give them to them), and are poinsoning the environment as they produce their cheaply made, shoddy, lead-filled, melamine tainted GARBAGE.

        Have you ever read Sun Tzu's Art of War?

        The Chinese are implementing a lot of those principles into their economic policies. They're destroying the West by tempting us into socialism and communism by forfeiting all of our manufacturing, becoming totally dependent on their welfare and debt buying, as they become the twisted model of looter-capitalism.

        People wonder where the "economic collapse" came from. It came from the stupid greedy people who have the same mentality as the CEO's who outsourced all our jobs to third world countries, making the USA the poorest(in real economic terms) country in the process!

        There are American flags Made in China. That should be enough said right there. But for some reason, stupid people keep buying the garbage the Chinese make. They're undermining their economy ten times faster than it took to build this once great country.


        They cry and say "It's impossible not to buy from China". That's because people have been demanding the illusion of wealth, without having to make money. They want their cheap junk from Wal Mart that drives the economy into the ground, and then complain when there's no jobs and paper money is only good enough to wipe your butt with. You can live without an iPod! GET A LIFE!

        Seriously, look how stupid and absurd it all really is. Stop buying from China before it's too late.
        • 5 Years Ago
        @matthew
        @ matthew

        > So I see the toyota trolls have joined

        You have to understand that no one likes Chinese cars outside of China. If you insist, then every single person on this planet outside of China are trolls.

        You on the other hand doesn't seem to have anyone else backing you up, it is just you the lone Chinese crusader against the entire autoblog posters.

        > I still don't get why anybody would think any company would cough up billions of dollars to buy a company only to drive it into the ground.

        Because that couple of billions could easily be recouped by moving the production back to China.

        > I mean, honestly, are there actually any people stupid enough to think that in the USA? Come on, seriously? I don't believe they exist.

        Sorry, we the people here in USA are stupid enough to think in such way after observing Chinese handling of MG Rover and Ssangyong.
        • 5 Years Ago
        @matthew
        So I see the toyota trolls have joined

        "I mean, honestly, are there actually any people stupid enough to drive a Geely in the USA? Come on, seriously? I don't believe they exist."

        I still don't get why anybody would think any company would cough up billions of dollars to buy a company only to drive it into the ground. Obviously, they want Saab/Volvo's safety and other tech, so that they can mass produce it cheaply, which in turn would benefit the consumer, not so much for competitors like toyota or hyundai.

        I mean, honestly, are there actually any people stupid enough to think that in the USA? Come on, seriously? I don't believe they exist.
        • 5 Years Ago
        @matthew
        "You have to understand that no one likes Chinese cars outside of China. If you insist, then every single person on this planet outside of China are trolls.

        You on the other hand doesn't seem to have anyone else backing you up, it is just you the lone Chinese crusader against the entire autoblog posters."

        If you actually read my comments, you would see all I try to do is bring objectivity to the issue, as opposed to you who troll every Chinese related thread. you talk about the Chinese are no threat, okay so why the need to troll every thread? insecure? or just racist? or both?

        Who else have I accused besides you and your other fake ids of being trolls? And if you didn't have your gang of trolls and fake id's you wouldn't really have anyone else backing you up either. It's so obvious when these "people" backing you up have no posting history except to bash me. really.
        • 5 Years Ago
        @matthew
        @ John H.

        > There were people who bought Japanese cars in the 1970s

        Japanese cars were already better than American cars quality wise by early 70s. The quality of American cars were so bad that Japanese didn't have to do anything to beat Americans in quality, and the reputation of Japanese quality was born.

        > so there will be people buying Chinese cars in the 2010s.

        That is if Chinese cars could make it to the US in the 2010s, which looks increasingly unlikely thanks to stronger safety and emissions standard. Think about it, all new cars sold in the US by 2016 are required to be as fuel efficient as Yaris is today. 2016 models also must score 5 stars on IIHS crash test to be marketable to consumers. Reaching those goals is like moon shot to the Chinese.

        In other word, the window of Chinese entry into the US market has already closed.
      • 5 Years Ago
      can you imagen seeing saab and volve with chinese 'babes' @ the futures car shows?

      i can't understand how a company like Volvo is in trouble, the company that invented so many safety features for autombiles, just like saab.

      they probably sucked out what they could get and ....
      grrrr

      • 5 Years Ago
      The plan is to combine Saab and Volvo and form... Salvo!
        • 5 Years Ago
        Chinese automakers need one, not two.

        Chinese objective is to root technology from Volvo and Saab and take their dealership, not to keep Volvo and Saab as going concerns.

        GM and Ford tried to keep Saab and Volvo as going concerns and this is why they failed.
        Chinese have no such intention, so this is why they are eager to buy.
        • 5 Years Ago
        @ anonymous j

        > that's funny hypermiler, my three stars and your one star would indicate otherwise.

        Well, I don't vote for myself with million different ids unlike you.

        On the other hand, I have millions of your fake ids negging me.
        • 5 Years Ago
        "It is just you alone here who says that. That's right, you alone."

        that's funny hypermiler, my three stars and your one star would indicate otherwise.
        • 5 Years Ago
        Considering the questionable "safety" crash standards of Chinese autos...them Chicoms are desperate to acquire any of the two reputed crash worthy Swede automakes.
        • 5 Years Ago
        LOL funny. These comments are funny LOL!
        • 5 Years Ago
        @ anonymous j

        > Many other people would say otherwise and that GM and Ford have already rooted their technology and left them for dead.

        It is just you alone here who says that. That's right, you alone.
        • 5 Years Ago
        "Chinese objective is to root technology from Volvo and Saab and take their dealership, not to keep Volvo and Saab as going concerns.
        GM and Ford tried to keep Saab and Volvo as going concerns and this is why they failed."

        Many other people would say otherwise and that GM and Ford have already rooted their technology and left them for dead. But how silly of me to expect an objective view from a hyundai troll.
      • 5 Years Ago
      Chinese autos are picking up good name brands at bargain basement price but considering future looks grim for GM and Chrysler, it does not hurt to wait a couple years and get them for free -)
      • 5 Years Ago
      Sounds like a good opportunity for Ford and GM to jack up the price. At least at back what they paid for them in the first place.
        • 5 Years Ago
        In that case, Geely will walk, along with all of the hourly and salaried workers tied to either company.

        Geely isn't Japanese, so won't over pay for either company.
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