Geely describes itself as the "poor boy from the countryside", while Volvo is the "rich girl from the city". Geely believes that for the marriage to be successful, certain commitments must be made. Geely therefore strives to preserve Volvo's: 1. Brand Equity 2. Culture 3. Manufacturing and R&D in Europe (to preserve "European-ness") 4. Relationships with Suppliers and Distributors 5. Management Team (use Volvo management to run Volvo, similar in approach to Hong Kong integration: "One Country, Two Systems") 6. Relationship with Labor Union
Dec. 31 , 2009As discussed in the recent CCTV-International Dialogue program, 2009 was a year of tremendous historical milestones for the China auto industry. Triggered by the global financial crisis, the global automotive industry witnessed a year of unprecedented restructuring, as many industry icons struggled for their survival. After peaking in 2007 at 70 million units, the global automotive markets have experienced a contraction of nearly 10 million units over the past 2 years.
Dec. 14 , 2009