#31 …and now even Volvo

Volvo of Sweden which has been owned by Ford for a number of years will be sold to a consortium led by Chinese carmaker Zhejiang Geely. It has been reported that the consortium is willing to pay about $2bn as it seeks to capitalize on the brands’ good reputation in the Chinese market. The first voices of concern from inside Volvo have already emerged. The head of Volvo’s engineering union expressed severe concerns about the Chinese’s ability to understand the Volvo culture – understandaby. Swedish culture is almost everything that Chinese culture is not – valuing individual initiative, egalitarian and risk-seeking. Brace for impact!

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