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Corporate Business

Volvo Snapped up by Chinese

This isn’t exactly British car news, but Swedish car maker Volvo is heading into Chinese hands, after owner Ford announced that Geely is in pole position to buy the struggling manufacturer. Following in the footsteps of MG Rover’s sale to Shanghai Automotive and Nanjing Automobile, the potential deal marks the latest move by a fast-expanding Chinese car maker to boost its presence in Europe. Negotiations have been ongoing for some time, and it is understood Ford was only willing to enter into discussions once it had evaluated the firm’s Chinese operations. Now the green light has been given, the future of Volvo and the launch of promising upcoming models such as the S60 should be secure. The move will also benefit Geely. Volvo’s research and development expertise and engineering skills will be a huge bonus, as its main interests are […]

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Corporate Business

SAIC to Launch 1st MG Car after Marrying Nanjing Automobile

Shanghai Automotive Industry Corp. (Group) (SAIC) is scheduled to launch SW, a model in MG 3 Series, after the Chinese Spring Festival in February. The model will be the first new product the Chinese auto giant releases after marrying Nanjing Automobile (Group) Corp. It indicates that the MG brand will grow rapidly since the marriage began. SW has been in the spotlight after it debut at the Guangzhou auto show in November 2007. “We will bring out 1.4- and 1.8-liter products shortly after this Spring Festival,” a MG executive showed great confidence. MG 3 Series, priced between CNY 80,000 and CNY 120,000, will be a major force in the MG family, related people disclosed at the show. The SW is predicted to reach the ceiling of the brand’s price range and compete head-to-head with medium- and high-grade small-sized two-compartment products […]