Geely wants to build the safest car at lowcost, Volvo's technology!

Chinese manufacturer Geely, after Ford bought Volvo to 1.3 billion dollars, today announced plans to build the safest vehicle Low cost, using technology and Volvo experience, to compete with Logan.

Swedish manufacturer Ford has completed the sale of Volvo by the largest carmaker in China, Zhejiang Geely Holding for $ 1.3 billion dollars. Geely immediately announced it would invest 900 million dollars in a plan to expand and return profits to the Swedish company.

Chinese company, known in Europe for unsuccessful attempts to enter into force on this market, mainly because they offer low safety of its vehicles, plans to build a competitor for Logan lowcost. Model but will be over 10 times safer than the local model, says Geely, because Volvo will use technology and experience in this field and cheap labor in China.

The new model Volvo lowcost, Geely will be funded and produced by Volvo, the Chinese manufacturer hopes to change the image on the markets of Europe and can offer customers reliable cars at a fair price. According to Geely, the new model goes into production in late 2010 and will be launched in Europe in 2011.

Source: http://www.geely.com/

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