Li Shufu, dubbed the "Chinese Henry Ford," was the driving force behind the unlikely takeover of the world renowned Volvo brand by a relative unknown. China's Zhejiang Geely Holding Group, chaired by Li, today completed the $1.
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Volvo insists its identity will not disappear with its formal acquisition today by Chinese automaker Zhejiang Geely Holding Group.
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Ford Motor Co., long known for pickups and SUVs, will emphasize cars, crossovers and fuel-efficient engines in the next few years.
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New car sales in Spain plunged 24.1% year on year in July after government subsidies ended and sales tax rose, a trade association said on Monday.
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Avtovaz shareholders have valued the carmaker at US$2.4bn (RUB74.4bn) before its additional share issue planned for the end of this year, an anonymous company shareholder has said.
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Geely Holding Group named Volkswagen's Stefan Jacoby as CEO of Volvo Cars, after completing its acquisition of the Swedish brand from Ford.
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Steel Strips Wheels on Monday said exports to Renault in Brazil, has been revised upwards by 15,000 units for the quarter ended September.
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Ford said today it has completed the sale of Volvo Cars to Zhejiang Geely Holding Group for $1.8 billion.
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Yulon Motor, Taiwan's largest automaker by revenue, has received Chinese government approval to start producing its Luxgen passenger vehicle on the mainland from next year.
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Spanish and French car sales dropped in July from a year ago as scrappage schemes were phased out and austerity measures kicked in.
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Further details have emerged of Volvo's new board composition following formal acquisition of the Swedish automaker by Zhejiang Geely Holding today (2 August).
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Maruti Suzuki sold more than 100,000 cars in India in July, passing the six-figure mark for the second time in the current fiscal year.
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Lower Saxony, the German state that owns a 20 percent stake in VW, plans to sell shares in the German carmaker to help narrow its budget deficit, Finance Minister Hartmut Moellring said.
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US trade representative Ron Kirk has described the automotive trade deficit between South Korea and North America as unacceptable.
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BEIJING (Bloomberg) -- China's passenger-car sales grew at a faster pace in July as the government introduced subsidies for fuel-efficient models and dealers offered discounts to clear inventories in the world's biggest automobile market.
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BEIJING (Bloomberg) -- China's passenger-car sales grew at a faster pace in July as the government introduced subsidies for fuel-efficient models and dealers offered discounts to clear inventories in the world's biggest automobile market.
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Revised X-Trail SUV goes on sale here in October.
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Ford today (2 August) confirmed the sale of its Volvo division to Zhejiang Geely Holding Group for US$1.8bn.
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Chinese firm completes £1.14bn purchase of Volvo from Ford.
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