Geely: Budget cars

Chinese Saviors for Saab and Volvo?

Negotiations continue for the spin-offs of the Volvo and Saab Automobile companies. Once Swedish-owned and still based in western Sweden, both are now divisions of American motor giants, Volvo owned by Ford and Saab by General Motors.

But the massive downturn in the automotive industry has led to plans to spin-off both to new owners. Auto-makers in China have expressed interest in partial or complete take-overs.

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