So this is basically a supplement to recently reported news here that Geely was getting together a quarter billion dollars to do something, and it denied that its aim was to buy Volvo.
Now, the current Volvo CEO, Stephen Odell, has also denied that Geely is interested in purchasing the beleaguered auto company.
This actually leaves Volvo in a pretty bad spot–it’s a money losing division inside a money losing company in a bad economy. You add all these little results together and it looks more like someone’s just waiting for Volvo to bottom out so they can swing in and buy up all of Volvo’s assets for pennies on the dollar.
Considering the only other firm to even express an interest was Beijing Auto, and they were knocked out of the running way back in June, this doesn’t mean anything good for Volvo.
Tags: beijing, Beijing Auto, chinese car company, chinese cars, Geely, Geely Automotive, Volvo