Space Industry and Business News  
China Geely boss says open to overseas auto deals

by Staff Writers
Beijing (AFP) March 6, 2009
Geely Automobile's chairman said Friday the Chinese automaker was open to possible overseas deals, apparently softening his stance a day after saying his company was not keen to buy foreign brands.

Li Shufu, chairman of one of China's biggest privately owned auto manufacturers, told reporters his company was following the turmoil in the industry, and studying the restructurings, potential bankruptcies and possible mergers.

"Geely is paying close attention," Li told reporters on the sidelines of China's annual legislative session.

"If there is an opportunity we will participate" in those events, as long as it is in the interests of Geely's shareholders and the company's long-term development, he said in remarks partly read from a written statement.

A day earlier, Li told reporters that Geely did not plan to buy Volvo from troubled US automaker Ford Motor, or General Motors Corp.'s Saab brand, which is also expected to be sold.

He dismissed on Thursday a Wall Street Journal report from earlier this week saying Geely was likely to submit a bid this month to acquire Volvo from Ford.

For months, Geely has denied persistent rumours emanating from Hong Kong finance circles that a deal was close. But the Wall Street Journal cited unidentified "people familiar with the situation" as saying that a bid remained on track.

-- Dow Jones Newswires contributed to this report.

Related Links
Car Technology at SpaceMart.com



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


Singapore-made biofuel to run cars in Europe, North America
Singapore (AFP) March 6, 2009
Diesel made from palm oil, vegetable oil and animal fat in Singapore may soon be powering cars in Europe and North America, Finland's Neste Oil said Friday.







  • Obama nominates tech executive to be FCC chair
  • Analysis: EU to listen in on Skype calls?
  • Google introduces ads to Google News
  • Mobile phone showcase reveals trends to watch

  • The Case Of The Fairing That Would Not
  • NASA Kepler Telescope To Launch Aboard Delta II Rocket
  • Russia Set To Put US Telecom Satellite Into Orbit
  • BrahMos To Sign MOU With ISRO

  • China's large passenger jet ready in eight years: report
  • British, Chinese firms seal major aviation deal
  • Top Chinese aircraft maker launches global recruitment drive
  • Major airlines call for climate deal to include aviation

  • General Dynamics Completes WIN-T Test
  • Raytheon Reaches Key Milestones With Troposcatter Solution
  • Russian military satellite in orbit after launch
  • Boeing Delivers First Communications Payload To MUOS Prime Contractor

  • Russian General Says US May Have Planned Satellite Collision
  • Outside View: Radar shield at risk
  • Hit videogames have stories to tell
  • Microsoft goes intercontinental via cloud and Surface

  • Rob Peckham Joins SpaceX As VP Of Business Development
  • Raytheon Makes Executive Changes In Space Business
  • George Preston Chosen For 2009 Henry Norris Russell Lectureship
  • Stevens New Director Of Communications And Public Outreach For Space Foundation

  • Scientists Expose Buried Fault That Caused Deadly 2003 Quake
  • GOES-O Satellite Arrives At KSC For Final Pre-Launch Testing
  • Three ESA Earth Science Missions Move To Next Phase
  • Earth-Observing Landsat 5 Turns 25

  • Next Gen Tacter-31D Rugged Dismountable Vehicular Computer
  • Pay-As-You-Drive System Could Renew Aging Infrastructure
  • GeoSpatial Experts Introduces New Photo-Mapping Software
  • Tele Atlas Expands Global Coverage

  • The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement