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Fears for Volvo Expose Sour Turn in Sweden’s Ties With China
Keywords: Volvo China, Volvo Geely, Volvo Gothenburg,
Volvo is the economic centre of western Sweden. It merged with Geely of China after Volvo executives met with Geely Auto Holding group executives. Ford Motor acquired Volvo in 1999 for $6.45 billion but failed to invest in the company. Geely has invested $10 billion since the merger with Volvo and Volvo sales have increased. Volvo was able to operate autonomously under both Ford and Geely. There is now considerable uncertainty about the future of Volvo and its autonomous operating status after deterioration in relations between Sweden and China.
Sweden has seen acquisitions of technology companies in Sweden by China and there is concern in Sweden from the standpoint of national security. In this new context there is considerable uncertainty in Sweden about the future of Volvo.
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