China's geely holding [geelyul], owner of the volvo car brand, is buying an 82 percent stake in swedish truckmaker ab volvo (volvbst) from activist investor cevian capital, worth around $33 billion at current market prices. Truckmaker ab volvo (volvbst) is to drop the ceo of geely-owned volvo cars from its board, in a first sign of fallout from the chinese carmaker's swoop on germany's daimler (daignde. Zhejiang geely holding group, owner of volvo cars and shareholder of daimler ag, said it has all the production facilities ready around the world to take on local and international competitors in the mid-to-high end passenger vehicle market. Stockholm, feb 8- operating earnings at sweden's volvo car group leapt 28 percent to a record high last year as the chinese-owned automaker saw strong demand for a string of new models, above all in china volvo cars, bought by zhejiang geely holding group in 2010, also reported its fourth.
Volvo cars' successful transformation in moving up market under the ownership of little known chinese car maker geely is a curious one how the swedish company retained its heritage to break into the chinese market to compete against traditional luxury brands, and what its plans are to fully electrify. Beijing -- geely automobile holdings, the chinese owner of volvo cars, said full-year profit at its local automaking unit probably doubled, allowing billionaire founder li shufu to turn his focus to another major acquisition in sweden net income last year at geely increased around 100 percent from the. A $33 billion deal will give china's geely holding, which already owns the volvo automobile group, an 82% stake in volvo trucks. Zhejiang geely holding group, the chinese company that bought volvo cars in 2010, said on wednesday that it would acquire an 82 percent stake in ab volvo, a swedish manufacturer of trucks, from the activist investment firm cevian capital the deal, valued at $32 billion based on a new york times.
Zhejiang geely holding group is set to become the largest shareholder in volvo after activist investor cevian capital decided to sell its stake in the swedish truckmaker geely already owns the volvo cars brand the volvo company has brands including mack, renault trucks and ud. Our company is a truly global organisation with scandinavian roots and manufacturing in sweden, belgium and china – with plans to open in the united states volvo car group (volvo cars) is owned by zhejiang geely holding ( geely holding) of china « our purpose is to provide safe, sustainable and convenient mobility. The chinese owner of sweden's volvo cars is buying a stake in truck manufacturer ab volvo, expanding a portfolio of vehicle brands that includes shares in malaysia's proton and britain's lotus.
Shanghai -- chinese auto maker zhejiang geely holding group co has made its priciest overseas play to date by acquiring a $324 billion stake in swedish truck-and-bus maker volvo ab, as chinese investors continue to snap up global automotive assets geely, which already owns volvo cars, said. Activist hedge fund cevian capital has agreed to sell its entire shareholding in ab volvo (volvo) to zhejiang geely holding group (geely holding), subject to regulatory approval. China's geely has bought an estimated $33 billion stakes in swedish truck maker volvo, making it the biggest shareholder in the company and tightening its hold on that and volvo cars which it bought in 2010. The chinese owner of volvo car said full-year profit at its local automaking unit probably doubled, topping analysts' estimates and allowing billionaire founder li shufu to turn his focus to another major acquisition in sweden net income last year at geely automobile holdings ltd increased around 100.
China's geely, which already owns the swedish car brand volvo, has now become the biggest shareholder in ab volvo, the world's largest truck manufacturer in a transaction worth around 27 billion euro. The chinese owner of volvo cars will now become the biggest owner in volvo. Geely's expertise in the chinese market and skills in developing electric and autonomous vehicles should help the truckmaker to expand. They did not disclose the value of the transaction, which makes geely volvo's largest owner by capital and the second biggest by voting rights after investment firm industrivarden.
Geely is a chinese multinational automotive manufacturing company headquartered in hangzhou, zhejiang it sells passenger vehicles under the geely auto, lotus, lynk & co, proton, and volvo brands and commercial vehicles under the london ev company and yuan cheng. Top car manufacturers launch initiative to address environmental, human & labour rights issues in the supply chain author: edie the raw materials observatory is the product of a five-year partnership  between 10 leading car manufacturers which aims to improve sustainability in the automotive supply chain the new. No re-election at ab volvo for hakan samuelsson after geely chairman buys us $9 billion stake in mercedes-benz parent.
Stockholm: china's geely holding, which already owns the volvo car group, is buying an 82% stake in swedish truck maker ab volvo from activist investor cevian capital for around us$33bil (rm135bil. China's geely holdings group spends big money to reunite the volvo cars and the ab volvo truck brands with a 38 billion dollar purchase.
Volvo is a unique car company, where everything starts with people everything we do starts with people we understand people we protect what's important to them and want to make them feel special we take pride in our role within society and recognise our commitment towards the environment we innovate to make. 5 days ago chinese holding company zhejiang geely in march established the new division geely group motorsport to oversee motorsport activities for its growing list of brands, which includes the likes of volvo, polestar and lotus and on thursday, geely named swedish race team cyan racing as the official. Stockholm • zhejiang geely holding group is set to become the largest shareholder in volvo ab, after cevian capital decided to sell its stake in the swedish truckmaker that the activist investor was seeking to break up read more at straitstimescom.