China’s meteoric rise to become the center of the world’s automotive industry was well documented last week in our article and video on SAIC’s YEZ Concept car. This week another Chinese manufacturer is making global headlines by buying Volvo Automobiles. Unlike Government-owned SAIC, Volvo’s purchaser Zhejiang Geely is a public company controlled by Li Shufu (top left) a self-made 47 year-old billionaire who is being heralded as China’s Henry Ford. Geely’s ambition knows no bounds – it already plans to produce the world’s cheapest car (the tiny gullwing at top right), has a range of green drive trains ready for market including full electric and parallel and serial hybrids, has plans to produce a serious sports cars (bottom right) and now the first fully-owned Chinese prestige auto brand looks set to grab a fat slice of the Government fleet which makes up 8% of China’s auto market.
Read the full article: The future looks bright for the Chinese Volvo