Appropriately enough given the grim nature of Black Friday, I’m kicking today’s headlines off with a new, genuinely depressing development in the ongoing Ford/Volvo/Geely saga. Although I had hoped the next report would involve some type of surprise bidding upset by the obscure Crown consortium, the unfortunate reality is that Geely is still very much the preferred contender. Although concerns regarding the transference of intellectual property rights and threatened to stall the transaction indefinitely, it seems as though Ford and Geely have reached an acceptable compromise.
As per the report, should Geely purchase the ailing Swedish subsidiary they will retain the rights to all technology developed solely by Volvo which, thanks to the years of neglect suffered at the hands of Ford, will largely consist of City Stop and an awkward navigation system. Volvo itself will be granted continued access to any Ford technology vital to the brand’s future success (and I use that term loosely).
More on this extraordinarily discouraging story as it develops.
Image Cred: AP Photo