Volvo slightly exceeded YouTube acquisition four years ago

To get an idea, almost four years ago, Google was snapping up YouTube for $1.65 billion, brushing aside copyright concerns to seize a starring role in the online video revolution.

Geely and Ford officials have now completed the transaction by which the Swedish manufacturer Volvo goes under the patronage of the Chinese.

Ford dropped Volvo for the amount of 1.8 billion dollars, less than one third of the amount paid in 1999. The money will be transferred to accounts by the end of 2010.

Following the transaction, Stephen Odell, Volvo’s chief executive will take the lead of Ford Europe Division, and Li Shufu, Geely chairman, will become head of Swedish manufacturer.

Although Volvo has left the Ford’s protecting wing, the American manufacturer is willing to continue providing powertrains, vehicle components and the IT support required.

“Volvo is an excellent brand with a strong product line, and it has returned to profits after a successful restructuring. We are confident Volvo has a solid future under Geely’s ownership,” said Alan Mulally, Ford’s president and CEO.

“At the same time, the sale of Volvo will allow us to sharpen our focus on the Ford brand around the world and continue to deliver on our One Ford plan serving our customers with the very best cars and trucks in the world,” he added.

Li Shufu, Geely chairman, said “The signing and completion of this acquisition reflects the commitment of Ford and Volvo executives to the future of this company, along with the vital input of labour representatives and government officials in Sweden, Belgium and China as well as other relevant countries”.

Paris Motor Show 2010: Premiers

Paris Motor Show is fast approaching and the car manufacturers put on the starting line the most exciting new models or concepts. This year, Paris Motor Show will take place from 2-17 octombre and manufacturers’ stands will be arranged in Porte de Versailles. Given that they play at home, French car manufacturers will come with the most spectacular premiers.

Aston Martin

Aston Martin stand will be full of news. The British builder most likely will come to Paris with its DB9 model. The British supercar received a very delicate facelift, not long ago.

Audi

In Audi’s stand, the audience at the Paris Motor Show will be able to admire the new A7. This Coupe sedan will become the first rival for Mercedes CLS.

BMW

BMW will come to Paris together with its new X3 generation. After six years since its launch, the Bavarian compact SUV has a new design, much more attractive. Also, in their stand is likely to get acquainted with the long-awaited Megacity concept.

Bugatti

The Bugatti will come to Paris Motor Show with their new Bugatti Veyron Super Sport. The new version of the Veyron was able to enter the Guinness Book, reaching speeds of 431 km/h. This car is equipped with a 1,200 horsepower engine and 1500 Nm.

Chevrolet

Like they did at Geneva Motor Show, this year, Chevrolet will also present the Aveo RS concept at Paris Motor Show.

Citroen

Citroen’s stand will certainly be one of the most admired. French will present to the public its new generation of C4, but only the version with five doors. Also, the French manufacturer will make us aware of their DS4.

Ford

Ford officials will bring with them the new Mondeo facelift. The retouched version of the Mondeo offers customers a range of technological elements that were missing on the present model.

Land Rover

In the Land Rover stand, the audience at the Porte de Versailles will be able to admire the new Range Rover Evoque. The new British model is the smallest, lightest and most environmental Land Rover car created so far, and will be launched on the market with the anniversary of 40 years of the company.

Lotus

Lotus will be among the stars of the Parisian Motor Show, their stand will host the Esprit supercar concept. Besides that it is possible to see a GT roadster and two concepts.

Mercedes

Mercedes will present in Paris the new CL facelift and also the new CLS. The new CL-Class comes with a front look more aggressive and with a new propellant. Twin-turbo V8 unit produces 429 hp and develops a torque of 699 Nm.

Mini

The British manufacturer’s stand will host the new Mini facelift. The first information and pictures were presented in June, but its changes are minor, both externally and internally.

Opel

The tenth generation of the Opel Astra has received a release for a family, and the Paris Motor Show is the perfect place to display it. For the first time, Astra’s station wagon version drop its Caravan denominations for the name Sports Tourer.

Peugeot

Another car manufacturer who will play at home is Peugeot. French will showcase the new 508, mid-size sedan that will replace the old 407. French brand fans will get a surprise and officials are wishing to present the long awaited Peugeot 308 GTI.

Renault

Renault’s stand will be at high agitation because the French will present DeZir concept, an electric prototype that has a fascinating design and a 150 horsepower propeller with a range of 160 kilometers. Also, the French will come accompanied by the electric version of Fluence.

Smart

The Smart will be present at the Paris Motor Show with a restyled version of its Fortwo. The actual Smart Fortwo will leave the current car market until 2013, when it will be replaced by the new generation developed in collaboration with Renault and this facelift aims freshening this generation.

Suzuki

Suzuki from Japan will be accompanied at the Porte de Versailles, by the new generation of urban model Swift. The third generation of the Swift comes with a design slightly retouched with new, somewhat larger sized engines.

Volvo

If Geneva was introduced to the Volvo S60, Paris will see the V60. The wagon version of its S60 received the title of Sports Wagon to emphasize the sport allure.

Image source: Automarket

The former head of Saab could be the next chief of Volvo

Those from Dagens Industri announced that Jonsson is part of a “handful” of candidates for the key post of head of the board for Saab. According to the Swedish newspaper representatives from Gothenburg producer has already begun discussions with the chief of Trollhättan’s mark . As you know, Volvo is owned by the Chinese and Saab is owned by Spyker Cars.

The current head of Volvo, Stephen Odell, plans to leave to the leadership of Ford Europe, currently held by Fleming. In this case, Volvo should have another leader until signing the contract between Ford and Geely in August this year. Per-Ake Froberg, the Volvo spokesman, declined to comment on this information, saying that these details are known only to heads of Geely.

Last time Volvo made a profit in 2005, despite record sales in 2007. In an attempt to achieve profitability, the Swedes were forced to abandon several positions in recent years and to make various compromises. Volvo’s new owners do not accept the loss even for a year, so the new leader will have lots of things to do. As for Saab, the Trollhattan mark could be driven by Victor Muller.

Image source: Automarket

The Chinese from BYD deny rumors on taking over Maybach

Daimler has denied rumors about a possible takeover of the Maybach. A spokesman of the Germans said “the luxury brand is an important part of Daimler portfolio. There is no such decision”.

On the other hand, the Chinese have reacted quickly and said that they have not contacted Daimler in order to take over Maybach all this being a press speculation.

After Volvo officially came into Chinese hands, another European manufacturer is about to repeat the example. According to a automotive publication in China, the Chinese manufacturer BYD is interested in a possible acquisition of subsidiary Maybach.

Image source: automarket.ro

Volvo will be sold to Geely

Chinese Vice President Xi Jinping will arrive this weekend in Sweden to discuss with representatives of the North-European state the final details related to crossing Volvo in the portfolio of the Chinese manufacturer Geely.

If the business will be closed, buying the brand Volvo will become the largest car deal in China’s history, total costs reaching two billion dollars.

Volvo representatives confirmed the visit of the Chinese State man, sources inside of the North manufacturer announced that the deal will be officially announced in a ceremony which will take place on Sunday.

Zhejiang Geely, announced that Volvo’s main target will be achieving profit by 2011 by building new factories in China and by doubling the annual production.

Currently, the only barriers to a deal between Ford and Geely about sale Volvo are the protests of the Volvo union workers in Sweden, who are frustrated that until now have not received any information regarding the Volvo needs in post-sale period, the number and name of the investors behind the deal and the company’s management.