Posted on Oktober 28th, 2009
A major obstacle has just been removed from the deal brewing between Zhejiang Geely Holding Group and Ford Motor Co. According to a Europe-based Geely spokesman, the deal has been held up due to a dispute on intellectual property rights issues in the bid for Volvo.
The spokesman also confirmed that if the sale is made, Geely will take control of all technologies developed exclusively by Volvo. Under the agreement, Volvo will still have access to Ford technologies that are essential to the future development of the brand, including those relating to safety and environmental protection. On the other hand, Geely will not have access or any ownership rights to those Ford technologies. Just last month, Ford named Zhejiang Geely Holding Group, the parent of Geely Automobile Holdings, as a preferred bidder for its money-losing Swedish car unit.
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