Following on from the takeover of Volvo by Chinese Automakers Geely in 2009, we have some fresh news on progress for those interested now, as Geely admits they face a tough challenge ahead.
As reported from Reuters, Geely now face the challenge of using the Chinese market to turn Volvo, into a profitable brand once again.
But analysts are optimistic that the Chinese market will be key in shifting fortunes for Volvo, just as it did for General Motors and Toyota after recent woes.
John Zeng, an analyst with IHS Global Insight had this to say on the matter: “If he (Li Shufu, Chairman of Geely) can make Volvo profitable in China that would at least help offset losses in European operations and keep them up and running.”
Let us know your thoughts on the future of Volvo. Full article through the link.