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The Inaugural Deal in Car Manufacturing History - Geely & Volvo Acquisition

Geely buys Volvo
18 November 2014

Founded in 1986, Zhejiang Geely Holding Group (Geely) began to specialise in the automotive industry in 1997 and over the following years, focused on technological innovation, and personnel training. With total assets of more than RMB 100 billion, Geely has been one of the China's top 500 companies for ten consecutive years, and has been ranked in the top 10 automotive manufacturers for eight consecutive years. In addition, it is recognised as the “Innovative Enterprise of China” and “Complete Vehicle Export Base of China”. The total operating revenue of Geely has reached USD 23.3557 billion (approx. RMB 150 billion). On July 2012, Geely was listed in Fortune Global 500 as the only private automotive enterprise from China(source from:http://global.geely.com/geely_overview.php).

In 2010, James was instrumental in assisting Geely in its acquisition of the Volvo Car Company from Ford Motor Company in a USD 1.8 billion buyout, as the Chief Representative for Europe Affairs of Geely Holding Group.

After Geely’s successful acquisition of Volvo Cars, new batches of Geely products have been launched in the international market, such as EC7, EC8, GC2. Making high quality cars and maintaining high safety standard is now the signature of Geely. In the first half of 2012, Geely showed its robust growth momentum in the international market. The overseas sales volume of Geely over the past 6 months has gained 210% growth, compared to the same period of last year.

According to Geely Holding Group, Volvo Cars, sold 449,255 vehicles globally last year, which lead to an increase rate of 20.3% compared to the sales volume of 373,525 cars in 2010. In terms of business revenue, USD 18.59 billion was earned in 2011, which is 11.1% higher than the year before last.

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