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Volvo to take full ownership of its Chinese manufacturing, from parent Geely

Volvo has announced that it will take back control of its manufacturing, sales and operations in China after a new agreement with parent company, the Geely Holding Group. If you’re a little confused, don’t worry, it took us a while to understand the full scope of the news, here. In essence, what Volvo has done is sign a new agreement with its parent company that gives Volvo a larger stake in its Chinese operations. The ultimate goal here is to take back 100 per cent ownership over the management of its manufacturing plants, sales and operations in China, as Volvo looks to get a bigger slice of Chinese sales. Volvo likely sees huge potential in the Chinese market, driven by demand for its luxury SUV lineup, namely the XC90 and XC60.

Geely s Volvo Cars swings to profit in first-half

Geely’s Volvo Cars swings to profit in first-half STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely Holding, said on Friday it returned to profit in the January-June period, as it recovered from the market plunge due to the initial coronavirus pandemic. The Swedish carmaker reported operating earnings of 13.24 billion crowns ($1.5 billion) versus a loss of 989 million a year earlier, when results were heavily affected by the pandemic. ($1 = 8.6821 Swedish crowns) ); } return false; }); $( #comments .commentlist .comment-content a ).attr( target , blank ); });

Eyeing IPO, Geely s Volvo Cars swings to profit in H1 - Netscape Money & Business

Eyeing IPO, Geely s Volvo Cars swings to profit in H1 - Netscape Money & Business
netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.

Volvo Cars earnings top pre-pandemic levels in boost ahead of possible IPO

Volvo Cars earnings top pre-pandemic levels in boost ahead of possible IPO
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.

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