The Importance of Geely’s Volvo Purchase for the Chinese Auto Industry

The Importance of Geelys Volvo Purchase For The Chinese Auto Industry or so people think that Geelys acquisition of Fords Volvo is driven by the desire for sorely needed know-how for mainland chinawares auto industry. Who thinks that way is totally underestimating the technological advances make by businesses in the Far East. This comes from none less than GMs Nick Reilly. If anyone understands the true capabilities of the Chinese Auto industry, then its Reilly. Hes been there, in charge of a big part of chinas auto industry. He knows: Geelys Volvo purchase can mean the great derail forward for Chinese car exports. Reilly became GM group debility president and president of GM Asia Pacific in 2006, In 2009, Nick Reilly was appointed President of GM International operations based in Shanghai, China. GM is an old China hand. They came to China in 1997 and started the second large joint venture with Chinas SAIC in 1997. Buick is still alive only because it is an heavy brand in China. In an interview with Lon move intos Telegraph, Reilly warned to stop joking about the Chinese car industry.

He urges everybody to acknowledge the Chinese as a very sincere competitor: The general political climate is that these guys must be cheating and we need to rag more protectionist, rather than truly admitting what is happening. Generally I think there is a complacency or a refusal to accept the huge economic bring up there has been. Geely signed a binding deal sunlight to buy Ford Motor Co.s Volvo Cars unit for $1.8 billion, allowing the unaffiliated Chinese automaker to expand its foothold in Europe, as the Wall Street Journal reports. The agreement was signed by Geelys chairman, Li Shufu and Ford Chief Financial officer Lewis Booth, and witnessed by Li Yizhong, the Chinese minister of industry and randomness technology, as well as Swedish Minister for enterprisingness and Energy Maud Olofsson. Geely, or any of the Chinese car companies dont need to buy Western companies to... If you want to get a full essay, order it on our website: Orderessay

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