Post Tagged with: "Zhejiang Geely"

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Volvo gets $1.2 billion loan from China Development Bank

Volvo gets $1.2 billion loan from China Development Bank

Volvo Car Corporation will receive a €922 million ($1.2 billion) loan from China Development Bank to repay its debt, the Swedish carmaker announced on Thursday. The Chinese-owned carmaker hopes for more loans to help finance the investment needed to double its sales. As a second step under the loan agreement, […]

Volvo’s operating profit down 84 percent in H1

Volvo’s operating profit down 84 percent in H1

Volvo Cars Corporation announced on Wednesday that its operating profit fell 84 percent in the first half of 2012 compared to the same period last year. The Swedish carmaker owned by China’s Zhejiang Geely said the diminishing profit was caused by tough competition and the global economic downturn. Volvo’s H1 […]