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Ford reaches agreement to sell Volvo to Geely for $1.8 billion
Mon, 29 Mar 2010Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced on Sunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.
Nurburgring redesign plans unveiled
Thu, 13 Nov 2008By Ben Barry Motor Shows 13 November 2008 09:19 Anyone who’s been to the Nurburgring recently will have seen building work on a massive scale. So what’s going on? It’s all part of a €215 million investment that’ll see Europe’s most famous race track build on its uber track day reputation to become what marketing boss Stephan Cimbal describes as a motorsport theme park that’s open 365 days a year.
Brilliance A3: China’s BMW X1 substitute. A Rose by any other name?
Sun, 27 Mar 2011The Brilliance A3 - China's BMW X1 Lookalike The easy headline would be ‘Brilliance A3 – BMW X1 Clone’. But that would be a little unfair to Brilliance. Western car makers – as we’ve mentioned many times before – are compelled by Chinese law to partner with a local car maker if they are to trade in China.