Yang Jian, president of Geely Automobile in Hong Kong, told NetEase on the evening of the 17th that Geely’s negotiations with Volvo are still in progress. Geely hopes to acquire Volvo as a whole and the total amount of funds involved is not disclosed. Yang Jian also confirmed that former former executive vice president of Beijing Benz and president of Huatai Automotive, Tong Zhiyuan, has joined Geely and will participate in the work after Volvo M&A and is responsible for the full operation of Volvo in China. At present, the negotiations between Geely and Volvo are being carried out in depth. On the most difficult intellectual property issues, the two sides have reached an agreement. If it goes well, Geely will formally acquire Volvo in early 2010. Cross Linked Shrink Film ,Crosslink Shrink Film,Cross Linked Pof Shrink Film,Pvc Heat Shrink Wrap Guangdong Xiangmei Film Co.,Ltd , https://www.xiangmeipacking.com
In order to smoothly realize the plan of acquiring Volvo , two heavyweight professional managers have recently joined Geely Auto, one is the former executive vice president of Beijing Benz, the president of Huatai Automobile is Tong Zhiyuan, and the other is the original Fiat Powered Fiat Power (FPT) China District CEO Shen Hui.
Although Geely has not formally announced the news of Tongzhiyuan’s joining, on December 15th, Geely has published an appointment letter for Tong Zhiyuan internally, and Tong Tong is the chief operating officer of the “China Volvo Car Projectâ€. Yang Jian confirmed this news to NetEase.
The joining of Shen Hui has long been announced as the vice president of Geely Holdings, responsible for overseas projects.
The joining of two professional managers is directly related to Geely’s acquisition of Volvo. Tong Zhiyuan will participate in the work after Volvo M&A and will be responsible for the full operation of Volvo in China; and Shen Hui is representing Geely Automobile in the acquisition of Volvo in Europe and Ford. And negotiate specific issues related to the transfer of intellectual property rights. It is expected that this round of key negotiations will continue until the end of this month.
Yang Jian said that after Geely acquired Volvo, Volvo will continue to operate independently and will not be integrated with Geely's existing system. Geely is Geely and Volvo is Volvo.
In an interview with the media, Yuan Xiaolin, spokesperson for Geely Group, said that Geely will employ top international consulting firms, investment banks, accounting firms, and legal affairs consultants to form a "star team" to prepare for the acquisition of Volvo in all aspects.
It is understood that Geely hired Roland Berger Consulting Co., Ltd. to conduct a 100-day internal review and reorganization. According to a source close to Roland Berger, Netberg revealed that Roland Berger China has taken over a few days ago. Geely’s case began to conduct an internal review of Geely.
Under normal circumstances, the pre-merger restructuring review includes business investigations, legal affairs investigations and financial investigations. In addition to Roland Berger, Geely’s so-called "star team" also includes Deloitte, a world-renowned accounting firm.
Roland Berger's internal review to help Geely may be mainly based on commercial surveys, that is, a survey of the market conditions and market prospects of relevant parties, which will directly affect Geely's development plans for Volvo's future business.
Although Volvo China has just repositioned Volvo's development in China, after the introduction of Volvo series models in China, Volvo believes that it has the ability to compete directly with Mercedes-Benz and BMW. However, the leadership of "Volvo China" will soon be replaced by Geely Chia sent by Geely.
Volvo’s blueprint for development in China has long been depicted in the mind of Tong Zhiyuan. It is understood that after Geely acquired Volvo, it will set up factories in China, responsible for the production and sales of Volvo. Changan Ford will change at that time, and Volvo will also make a clear relationship with Changan Automobile.
BAIC and Saab are the first successful examples of domestic auto companies acquiring overseas advanced complete vehicle complete sets of technology and powertrain technology this year, and Geely's acquisition of Volvo will rewrite China's auto history and become the first overall acquisition of international high-end car brands. Private Enterprise.
Tong Zhiyuan’s resume:
Tong Zhiyuan has long been known to the industry and is recognized as a technology-based corporate executive in the automotive industry. Prior to joining Huatai, it was the Chinese leader of the luxury car joint venture company Beijing Benz. He was the director and senior executive vice president, and later became the chief engineer of Beijing Automotive Industry. He was responsible for the R&D of independent brands, and was the first senior executive who led the independent development of the joint venture in China.
According to an executive evaluation of Huatai Automobile, Tong Zhiyuan made important contributions in Huatai, which fully enhanced the competitiveness of Huatai Automobile. Formulated China's first low-carbon vehicle development strategy and annual work plan for emission reductions of 9%; enabled Huatai Automotive to significantly increase its profitability, triple its sales profits, and reduce inventory by 63%; established Huatai's product development processes and standards, Operational mechanism and management model; quality management level has been greatly improved, and the failure PPM value has dropped by 10 times. In 2009, under the condition of not enjoying the national purchase tax preferential policy, China and Thailand market share will be doubled.