In direct contrast to reports circulated back in April that hinted at the existence of a mysterious potential European buyer, sources have now confirmed that sole bidder expressing interest in acquiring Volvo from Ford is China-based Geely Automotive. Generally regarded as a taint on the automotive industry, Geely is most reputable for its comically poor safety ratings and, as of late, copyright infringement. Rather than repair their tarnished image by producing original, innovative, quality products, Geely has set their sights on Volvo in hopes of leeching from what’s left of their reputation.
Shortly after news of Geely’s intentions swept the industry, Volvo Car Corp. President & CEO Stephen Odell hosted a press conference at the Geneva Motor Show, dismissing the suggestion that Ford would whore Volvo out to any Chinese automaker and confidently asserting that Volvo’s sales would be on a upward trend by fall. Unfortunately, Ford themselves appeared of a conflicting opinion as news broke shortly thereafter revealing “Project Nile,” an internal Ford team created with the sole objective of preparing Volvo for sale by the end of 2009.
Following that revelation, Ford, who had previously positioned themselves above the deplorable corporate tactics of fellow Detroit automaker, GM, remained suspiciously quiet on the matter and has yet to offer an official statement clarifying the situation.
Editorial note: Much of Ford’s well-publicized success can be directly attributed to both their quality product and perceived business ethics. If Ford follows through with their assumed intentions, they will directly undermine any integrity or ethics previously assigned to them – regardless of how well PR is able to spin it.
Source: Auto News