I was skimming through list of new 'super-rich' people the Forbes' new Billionaire list and there was one name really caught my attention. He is Li ShuFu, the owner of China Automaker Geely. On the description in Forbes, it says that Geely is planning to buy the brand Volvo from Ford. So I tried to research about this issue since I never heard of such news.
Not surprisingly, I only find an article about the intention of buying the Volvo dated back on January, 2010. This awes me because I just realized how aggressive China automakers are. On my previous post, "Fail Attempt", it was the Sichuan Tengzhong, which was gonna purchased Hummer from GM, and now its a Zhejiang-based Geely planning to take over yet another US's business. Well, it makes sense in a way that China government is very willing to increase the sales of the cars, and the sales figure in China had actually surpassed the US's as the largest auto market in the world.
On the other hand, the deal is kind of fading away like the Hummer deal. There is an issue that "something" from Geely side has postponed the deal and the officer from Geely refused to give the detail on the delay.
Is it the visit of Dalai Lama to the US? the Google threat to leave China? Whatever the reason is, it must have something to do with the ambition of China overtaking the US as the largest economy in the world and the US is certainly won't let that happen anytime soon by letting China automakers claiming its car brands.
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