Tuesday, August 03, 2010

Volvo is now owned by a Chinese company

Today marked the first time in history, a Chinese company owns 100% of a foreign carmaker.

The Chinese carmaker Zhejiang Geely Holding Group paid $1.3 billion cash for the carmaker on Monday and issued a $200 million note payable to Ford. And today, officially Volvo is owned by a Chinese company.

I remember someone said to me, that 1800s was ruled by the British, 1900s was ruled by the U.S. and 2000s will be ruled by the Chinese.

I think early evidences show just that.

for more info about the news, Chinese company bought Volvo by NY Times.

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