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Your location: Home > Related Articles > Earlier, Geely did a great thing! The automotive industry is about to be disrupted.أداة الاختبار –

Earlier, Geely did a great thing! The automotive industry is about to be disrupted.أداة الاختبار –

Author:QINSUN Released in:2023-09 Click:97

Earlier, Geely did a great thing! The auto industry is on the verge of disruption.

Recently, Zhejiang Geely Holding Group announced that it has reached an agreement with European fund company Cevian Capital to acquire 88.47 million A shares and 78.77 million shares of the group Volvo which it holds in B shares. After the completion of the project, Geely Holding will hold 8.2% of the capital of the Volvo Group, becoming its largest shareholder and owning 15.6% of the voting rights.

Geely told CCTV Finance that the acquisition of Volvo Group is still different from the acquisition of Volvo Car Company. As Geely Holding Group is the 100% owner of Volvo Cars, it guides its strategic planning, management operations and market expansion. Regarding the investment in Volvo Group, Geely Holding Group is only a major shareholder. He exercises the rights of the majority shareholder and devwould obtain a director seat after the transaction is completed, butWe will not make adjustments to the company\'s development strategy. In other words, nothing will change.

The Volvo Group, headquartered in Sweden, is the world\'s leading manufacturer of trucks, buses, construction equipment, ships and industrial engines. It owns Volvo Trucks, UD Trucks, Renault Trucks, Volvo Buses, Xinxing Buses, Pevo Buses, Volvo Penta Engine and other brands. Li Donghui, executive vice president and chief financial officer of Geely Holding Group, and Christer Gardell, co-founder of Cevian, signed a share acquisition agreement on behalf of both parties. The transaction must still be approved by regulatory agencies.

This project is another important strategic investment by Geely Holding since the acquisition of Volvo Cars from Ford Motor Company in 2010. Geely Holding Group already owns VolvoCars, Polestar, Lynk & Co, Geely, London Electric Vehicles, Long Range Commercial Vehicles and many other well-known brands. This year, Geely Holdings also made strategic investments in Proton Motors, Lotus Motors and Taili Flying Cars.

Li Shufu, Chairman of Geely Holding Group, said: \"We will learn from the successful cooperation experience with Volvo Cars, respect and inherit the history and of Scandinavian culture belonging to Volvo. Band. , a leading market position, excellent innovation capabilities and energy-saving and environmentally friendly technologies, help the board of directors and management of the Volvo Group to carry out various tasks in accordance with the established strategy. \"

Under the terms of the agreement, Cevian Capital will sell its 88.47 million A shares and 78.77 million B shares of the Volvo Group to Nomura International and BarclaysSecurities. Nomura International and Barclays Securities have promised to resell all their shares in the Volvo group. to Geely Holding after Geely Holding finalizes project approval.

Historically, Volvo Car Company was a subsidiary of the Volvo Group which was mainly involved in the sedan sector.

In 1999, the Volvo Group sold its sedan business to Ford Motor Company.

In 2010, Zhejiang Geely Holding Group acquired Volvo Cars. Volvo Cars is a private company, while the Volvo Group is a public company whose shares are traded on the Stockholm Stock Exchange.

From January to September 2017, the total assets of the Volvo Group reached 393.2 billion Swedish crowns, the turnover amounted to 243 billion Swedish crowns and operating profit at 23 billion Swedish crowns.

It is a change in the structure of commerceglobal !

It was here that, on April 1, 2014, the heads of state of China and Belgium witnessed the deployment of the 300,000th Volvo car exported to China. And from there, embark on the journey to China.

Eric, the general director of the factory, still clearly remembers the visits to the factory by leaders of Eastern countries


Eric van Land, general manager of the Volvo plant in Ghent in Belgium, took journalists back on the route of the president\'s visit: “President Xi Jinping often appears on television. Every time we see it on the news, workers recognize it immediately. Sometimes they still talk about it. Some time has passed since his visit to the Volvo Group, but the workers still talk about that day, that event, and that is very important to us.\"

In 2010, the Chinese group Geely Automobile acquired the Swedish Volvo Cars.The world\'s most advanced automobile manufacturing technology and experience began to become the latest wealth flowing into the Silk Road.

Gothenburg, a famous port city on the southwest coast of Sweden, is the industrial center of Northern Europe. The China-Europe Automotive Technology Center, established in 2013, is located at this factory on the shore of the Kattegat Strait in Gothenburg.

Capital on the market is cold. Only sincere communication can allow everyone to feel each other\'s warmth during cooperation. This is how Volvo and Geely employees really feel today after being integrated into one.

Clay left the Volvo Cars production line to work at the Central European Automotive Technology Center. With the change of position, the meaning of work is also completely different. On the production line, Clay only makes the productsits of the company, but in the technological center, its daily work narrows the gap between industrial civilization between Europe and Asia.

Clay Hammarsson, engineer at the Swedish Center for Automotive Technology in Central Europe: I think Volvo is a very important brand for Swedes. In many ways, the impact of cooperation with China is positive for both parties, because we are no longer alone in the Swedish automotive industry. Of course, this creates a bit of a challenge as both companies are looking for the best engineers. But I think it\'s mostly positive for the Swedish car industry.try and for Volvo. Working together is better than working alone. We brought more expertise to Sweden and more suppliers joined us. So I think the impact is positive.

The China-Europe Automotive Technology Center was established three years ago with only 50 employees at the beginning.Today, the total number of employees reaches 1,500. Young engineers sent from China to Sweden work together with world-class automotive engineers, and industrial technologies from Europe and Asia are thus integrated.

On the banks of the Göta River in Gothenburg, the city\'s tallest statue stands quietly. Legend has it that it is a Swedish wife looking east along the river, waiting for her husband to return as soon as possible when he goes to China to trade tea.

More than three hundred years ago, the Swedish East India Company\'s trade volume with China exceeded the Swedish national budget at the time. The pure circulation of goods that has lasted for hundreds of years can no longer continue to operate according to the concept of the Silk Road economic belt. Allow regions with different nidevelopment calves to share advanced civilizational concepts and ultimately achieve win-win results for the entire region is not just an initiative of Eastern powers, it has become a consensus on the Eurasian continent.

Today, the Silk Road Economic Belt initiated and implemented by China has begun to extend deeper between Asia and Europe. Nearly half of human society\'s social resources and the most urgent economic vitality will embark on a new wealth journey in this economic belt and achieve true prosperity and rejuvenation.

Thus, the values ​​that have accumulated and driven human society forward for thousands of years will also be called upon and inherited by the East and along this economic belt. . Unleash your charm and return to the world.

Today, this action covers billions around the worldld has become more and more clear on this economic belt. This is the common thread shared by the peoples of Eurasia. dream of the road.