Volvo technology enters new era

The deal transferring Volvo's ownership to the Zhejiang Geely Holding Group is expected to be sealed before the fourth quarter of this year, offering a lower cost base that could see Volvo sales up from about 390,000 this year to a million by 2016.

There was a time not so long ago when the mere possibility of Volvo (which managed to retain its quintessentially Swedish identity under Ford) becoming part of a Chinese industrial organization would have seemed as unlikely as General Motors filing for Chapter 11 protection.

But as the auto industry entered the 21st century, it emerged that the only certainty was uncertainty, and the deal transferring Volvo's ownership to the Zhejiang Geely Holding Group is expected to be sealed before the fourth quarter of this year, offering a lower cost base that could see Volvo sales up from about 390,000 this year to a million by 2016.