Geely offers assurances it won't plunder Volvo

Here's some reassuring news if you're Swedish, although we'll believe it when we see it: Chinese automaker Geely says it would take a hands-off approach to the running of Volvo if it ends up buying the Swedish automaker from Ford, Reuters reports.

Geely would let Volvo keep its current production, research and development facilities. It would not tinker, either, with  union agreements and dealer networks, Reuters quotes Li Shufu, founder of Geely Group, as saying.

"If the deal succeeds, nothing will change for Volvo, except the boss turns to Li Shufu," Li told the official Xinhua news agency.  "Volvo and Geely will be two independently managed brands."

Why the reassurances mean a lot right now:

Ford Motor issued a statement last week saying that it looks like the sale is going to go through, with a letter of intent to be signed in the first quarter and turnover of Volvo by midyear. Ford bought Volvo in 1999 for more than $6 billion. Some analysts have estimated that Ford would fetch a third of its original purchase price.

General Motors is trying to unload or shut down Saab, Sweden's other well-known automaker. So Swedes might be nervous about whether Geely wants to plunder Volvo.

But Li says not to worry. Heck, China has largely left Hong Kong functioning much as it did under British rule, so at least there is precedent. And Geely will benefit as it learns all the things that Volvo is doing right.