With Geely now having been able to secure 15 billion Swedish crowns, it appears that it will be successful at finalizing its purchase of Volvo from Ford, according to Swedish business daily Dagens Industri.
Chinese manufacturer Geely needs this much money to complete the deal from Chinese financial institutions and regional government bodies. A source said that the amount is already in the bank account of Geely’s parent company Zhejiang Geely Holding Group.
Read Article