Volvo Backs Out of IPO Due to Trade and Market Conditions

Volvo Backs Out of IPO Due to Trade and Market Conditions

President Donald Trump’s seemingly ongoing trade war with, well, everyone as well as a less-than-robust period for auto stocks has forced Volvo Cars to put off its initial public offering — for now, anyway. Volvo Cars, which is owned by China-based Geely, previously...
Geely Sales in China Growing Fast

Geely Sales in China Growing Fast

Geely Automobile Holdings Ltd., which is rapidly emerging as one of China’s top automotive companies, saw its sales increase by 44% in its home market during the first half of 2018, the company reported. The company reported that it sold 766,630 vehicles between...
Geely Readying to Plow $1.9B into Lotus Expansion

Geely Readying to Plow $1.9B into Lotus Expansion

Geely appears ready to expand its sphere of influence once again. The parent company of Volvo and major shareholder of Daimler AG is rumored to be examining the viability of putting $1.9 billion into sports car maker Lotus. Holding 51% of the ownership stake, Geely is...
Volvo Hopes to Electrify Customers – and Investors

Volvo Hopes to Electrify Customers – and Investors

Volvo took a lead in the push into electrification last year, announcing it would use some of battery-based drive system on all future products, whether mild, conventional or plug-in hybrids, or pure battery-electric. And, last January, it gave us a hint of what that...
Chinese Automakers Eyeing International Roles

Chinese Automakers Eyeing International Roles

Guangzhou Automotive Corp. or GAC, one of the largest automotive enterprises in China, still plans to move ahead with plans to export vehicles to the United States in 2019 or 2020, a top GAC executive told the annual Global Automobile Forum in Chongqing, China....
Chinese Automakers Eyeing International Roles

Geely’s Li Shufu Says Partnerships Key to Auto Success

Geely owner Li Shufu urged Daimler AG, in which he recently became one of the largest shareholders, to consider further strategic partnerships. Li Shufu, who is also the owner of Volvo, recently became a major shareholder of Daimler after acquiring a 9.69 % stake in...
Daimler’s Zetsche Talks About Future With New Investor

Daimler’s Zetsche Talks About Future With New Investor

Daimler AG continues to enjoy record success even as it spends heavily on new investments to prepare the company to meet future challenges in an auto industry that is changing quickly and dramatically even as it adjusts to new shareholders. Daimler CEO Dieter Zetsche...
Geely Chairman Shufu Shaking Up Auto Industry

Geely Chairman Shufu Shaking Up Auto Industry

Daimler AG and its principal Chinese partner, BAIC, plan to invest almost $2 billion in a state-of-the-art factory in China, even as Li Shufu, the ambitious entrepreneur, who has made Geely into an automotive power begins to digest his purchase of a 9.7% stake in the...
Chinese Automakers Eyeing International Roles

Geely Buys 9.7% of Daimler AG for $9.2 Billion

Li Shufu, Geely’s chairman and majority owner, continues to sample different flavors from the automotive industry buffet, spending $9.2 billion for a 9.7% stake in Daimler AG. The purchase, which was revealed in a regulatory filing, makes Shufu Daimler’s largest...
China Posts Meager Auto Sales Gain in 2017

China Posts Meager Auto Sales Gain in 2017

China’s auto sales stalled in December and ended 2017 up a meager 1.4% compared with a year ago results as the popularity of SUVs helped to offset falling demand for sedans, the China Association of Automobile Manufacturers said. With global car makers such as...