Whats so wrong about it? Ford offered Volvo Cars for sale in December 2008, after suffering severe financial losses that year. On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Geely Holding Group. A definitive agreement was signed on 28 March 2010, for $1.8 billion. The European Commission and China’s Ministry of Commerce approved the deal on 6 and 29 July 2010, respectively. The deal closed on 2 August 2010 with Geely paying $1.3 billion cash and a $200 million note. It was the largest overseas acquisition by a Chinese automaker. Since coming under Chinese influence, Volvo has been profitable.

Viewing it from a geopolitical point of view, Volvo under the Chinese ownership wants to capture the European market using new technologies for which the raw material is aplenty within the geographical borders of China. This will reduce Chinese investor’s dependency on foreign resources and make them more integrated and sustainable.

This company under Chinese management is moving so fast towards the EV goal that it is moving past the slower pace of the European Automobile Manufacturers Association. That is progress.

Compare that to the pace of the Japanese who are actively trying to slow down the shift to EV and are going for such weird strategies as adding the words “so called” to legislation in order to cheat the shift to electrification.

What different approaches. I know which one I support… 👍

And to those who are still in denial about the EV shift; Adoption by the general public in those countries is so fast, it is outpacing slow government legislation. Think about it.