Geely aims to finalize its $2 billion Volvo purchase by the lunar new year on February 14, promising it'll preserve both the brand's reputation for safety and quality and its location of manufacture in Sweden.
"We don't want the image of a luxury car made in a third world country. We want the image of a European luxury car, albeit owned by a Chinese owner," Geely's vice president for international operations, Freeman Shen, told The Financial Times before going on to promise that Geely wouldn't drain Volvo of its talent or technology for Geely's own gain. The company does plan to manufacture some Volvos in China, largely for Chinese domestic market consumption rather than export. [via The FT]