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Geely car Company

Period 10 Global Studies Dave Cook

David Cook

on 26 April 2010

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Transcript of Geely car Company

Geely Car Company The Chinesse Government funded Geely Car Company
to help them buy Volvo from Ford Motor Company. Geely is a Chinesse
car company. Geely bought Volvo from
ford Motor Company for
$1.8 billion The deal between Geely Car Company
and Ford Motor Company was made on
March 28, 2010 . China is the world's largest
auto maker. Ford had a $4.7 billion loss
on Volvo. Ford purchased Volvo for $6.5 billion
in 1999. Ford said they made a good deal because
volvo was a lossing company. Geely started by making refridgerators in 1986,
then moved on to making motorcycles by 1992. in 1998 Geely started making cars. in mid 2008 Geely talked to Ford motor
company about buying Volvo. If Geely Car Company
had never bought Volvo
from Ford Chinessse culture
would have been changed.
China would have been
forced to import most of
their automobiles, which
would hurt their economy.
The Chinesse government
would have to spend more
money on cars. That is why
they bought Volvo from Ford.
This was an investment for
the future. They could make
their own cars instead of
buying them.
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