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Geely is hoping to break even on this deal by 2011, China’s Zhejiang Geely Holdings is projecting to produce up to 300,000 Volvo cars a year at a new factory in Beijing, according to sources. documents submitted to regulators by Geely reports that Zhejiang Geely, parent of Hong Kong-listed Geely Automobile, will complete the purchase of Ford Motor Co.’s Volvo unit for up to $2 billion by May. If they this much capacity it would double Geely’s annual output, that reached 321,900 units in 2009 for the entire group, up 45% from a year earlier. They are targeting that by 2015, it will be able to perform sales of 2 million cars a year. Analysts say that Geely’s plan to break even next year as being highly optimistic at most.
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Volvo Becomes China Export?
