FROM THE LOCAL: Geely is not a suitable owner of Volvo Cars, according to eight former Volvo directors. In a letter to Ford Motor Company’s chairman, Bill Ford Jr, former Volvo group directors, and former Volvo Cars managing directors, wrote that Geely lacks the necessary technical competence, according to the newspaper Dagens Industri. Chinese automakerIn the letter, the former directors implored Ford not to rush into selling Volvo Cars to Zhejiang Geely Holding Group without properly analyzing Volvo Cars’ future, now that there are signs that the market and profitability are improving. The former directors believe that Geely is not a suitable owner of Volvo. MORE>
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