True that Geely owns the Volvo operation that we are involved with - the car stuff. AB Volvo corporation sold the car manufacturing part of their biz to Ford in (approx) 2000, and Ford sold it to Geely about 10 years later.
It's an interesting arrangement - Geely get to use the name, logo, goodwill, dealer network and everything that goes with the car operation, and "Volvo Group" - the Swedish company, AB Volvo - retain the same name and logo (and the diagonal grille slash, with badge) on their products.
AB Volvo retained their other business divisions, heavy trucks (brands Volvo, Mack and Renault) and buses, construction equipment, marine propulsion systems and other ventures. We vacationed in Puerto Vallarta, Mexico a few weeks ago...four out of five tour buses at the airport were Volvos. As I write this a big Volvo front end loader is plowing our street to clear the 30 cm of snow that fell overnight.
I looked at AB Volvo's financials the other day and they seem to be doing very well. And Geely should be happy with the car side, as 2019 sales set another record for the 6th straight year and press releases state that their new plant in South Carolina is doing well.
--
Son's XC70, daughter's XC60, my 83 244DL, 89 745 (Chev LT-1 V8), and XC60. Also '77 MGB with Chev V6, and four old motorcycles. Long gone: 1981 244, 1994 940 and 1998 S90.
|