"Volvo: Money can't buy everything," read an editorial in Dagens Nyheter, Sweden's main newspaper of reference. "In mass-production China, there is a risk that the trademark will hollow out."

Summing up opposition to the deal, news agency TT said: "The objections above all had to do with (Geely's) ownership structure and financing."

Ford on Wednesday announced it had agreed the main terms for the sale of Volvo to Geely -- a former refrigerator parts maker that is now one of China's largest carmakers -- and said the deal would be finalised early next year.

Dagens Nyheter's auto industry reporter wrote in an analysis piece this week that Geely's takeover was "a journey into the unknown."

"A little Chinese company that started manufacturing cars only 10 years ago is to assure Volvo's future," Lasse Swaerd said, warning that Geely lacked the experience of "developing, building and selling cars on the world market."

The announcement of an agreement on Volvo's sale, coming as uncertainty looms over General-motors owned Swedish brand Saab's future, also raised questions as to the future of the country's auto industry.

"Both Swedish carmakers Saab and Volvo are on their way out of Sweden. Saab risks being shut down and everything points to Volvo becoming Chinese," public radio reporter Tommy Fredriksson said earlier.

"What's going to happen to Swedes' self-image?" he asked, calling Volvo and Saab modern-day examples of traditional "Swedish value."

Share This Article With Planet Earth

del.icio.us	Digg	Reddit
YahooMyWeb	Google	Facebook

Related Links
Car Technology at SpaceMart.com

Memory Foam Mattress Review

SPACE MEDIA NETWORK PROMOTIONS Solar Energy Solutions Tempur-Pedic Mattress Comparison ... Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News