Ford to Get $1.8 Billion for Volvo
Monday, January 25, 2010 3:46PM - By Chris Weiss
2010 Volvo C70
It looks like today is officially “Make a Deal for Swedish Automakers” Day. In news on the other pending Swedish auto deal, Ford will reportedly get $1.8 billion from Geely for Volvo. This fire-sale price is significantly lower than the $6.5 billion that Ford paid for Volvo back in ‘99. But all things economic have certainly taken a dive since then.
The reported target date for the sale is February 8. The new report comes from China’s Economic Observer.
It’s also likely that once the deal has been finalized, Geely will begin producing Volvos in a Beijing-area plant beginning with everyone’s favorite vampire-mobile: the XC60. [via LeftLaneNews]