Geely organising 1 Billion USD in loans for Volvo

Geely Automobile | Ash | December 1, 2009 at 10:49 pm

Geely has reportedly reached an agreement with Ford on Volvo IPR, which has lead to further speculation and rumour-mongering in the Chinese press as how exactly Geely plan on buying Volvo.

The Chinese press are reporting that Geely several banks and private investors on its side. The biggest lenders are The Bank of China, China Construction and and the Import Export Bank of China, the private investors have not yet been named.

Goldman Sachs dumped 334 million USD into Geely in September this year in an unprecedented move, it is still unsure if Goldman Sachs will invest further into Geely to aid them with any Volvo takeover.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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