A chuckle about Geely’s Volvo deal

The always entertaining Peter De Lorenzo at the Autoextremist.com gets a chuckle from Geely founder and chairman Li Shufu’s analogy regarding the Volvo deal. Hey Peter, I would be giddy as well if I just purchased a company like Volvo for what Geely just paid. When we get that excited we do tend to get silly…

(Posted 3/28, 5:00PM) Detroit. Part of what makes this business so enjoyable at times is that just when you think you’ve heard absolutely everything there is to hear, and seen everything there is to see, along comes someone like Li Shufu – the founder and chairman of the Zhejiang Geely Holding Group – who signed a deal to buy Volvo from Ford for $1.8 billion this past Sunday after two years of on and off negotiations.

With plans to project Geely as the first great Chinese automobile manufacturer, Li went off the deep end with his giddiness and excitement over the deal, equating Volvo to a tiger that needs to be freed of its shackles and constraints.

Read the full article here.

Photo from fOTOGLIF


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