18
Jun
Volvo will retain the rights for its licensed technologies
Posted by: idhay30 / Category: Cars
The bid made by Zhejiang Geely Holding Group, the parent of Geely Automobile Holdings, for Ford Motor Co.’s Volvo car unit is in the final stretches of getting approved. One of the issues recently resolved is related to the rights. Yuan Xiaolin, a Geely spokesman, had said that Volvo will retain the rights for its licensed technologies and that Chinese bidder Geely will gain the right to use the technologies. Continued after the jump!
Just last month, Zhejiang Geely was named by Ford as a preferred bidder for its money-losing Swedish car unit.
Yuan explained that Volvo will retain all its manufacturing and research facilities along with its dealership network and even its agreements with the labor union.
