Geely and Yulon first partnered in August when the Taiwanese automaker agreed to sell rebadged Geely panda cars in the domestic market. Geely Holding Vice President Wang Ziliang said the cars will be assembled by both companies but Yulon will be in charge of distributing them in the country.
Meanwhile, Geely is also working hard for taking over Volvo, Ford's Swedish unit which is looking for an outside investor to keep its operations alive. Ford has already confirmed that Geely is the preferred bidder for Volvo and said in a statement that negotiations will continue with the Chinese company.
“Ford’s objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties,” said Lewis Booth, Ford Motor Company executive vice president and chief financial officer. “Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core ONE Ford strategy."
Geely is confident that it could purchase Volvo and emphasized, through the voice of chairman Li Shufu, that it intends to bring the brand in every corner of the world.
"There are lots of details and we're taking our time," said Li according to Reuters. "We will continue to work hard and bring Geely to every corner of the world. We are seeking our way out into the world."
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