How geely waited for volvo

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How geely waited for volvo

Having finally broke free from Ford's stifling bureaucracy, who seriously limited How geely waited for volvo autonomy to build cars the way its engineers saw fit, Sweden's most famous automotive icon is now in better shape than ever before. Flush with capital from its new owner, the Zhejiang Geely Holdings Group, Volvo is now charging ahead at full throttle to catch up for lost time.

It has also announced an all-new modular engine family and an all-new modular platform that will complete the renewal of Volvo's entire model range by Under its new Chinese owner, Volvo Car has hired more than 1, new staff, mostly Swedish engineers.

Some new hires will work at the company's plant in Ghent, Belgium, Volvo's largest outside of Sweden. The increase in engineering headcount has been something that was sorely needed but Volvo was unable to do so during its days under Ford's Premier Automotive Group PAG.

Parent company Ford was not doing much better. Then-CEO, Allan Mullaly, was parachuted in from Boeing and one of his first tasks was to refocus Ford's business, going back to its roots of making regular cars for regular people.

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PAG was formed in by former BMW executive Wolfgang Reitzle at the tail-end of the automotive industry's consolidation period that characterised the '90s. In the first half ofVolvo Car recorded SEK1, million in operating profit, up 72 percent from the previous year and the company is on track to sellcars per years in the medium term.

Last year, Volvo soldcars, an all-time high for the year old company based in Gothenburg, Sweden. Li has since pumped in USD 11 billion to support Volvo Car's future expansion, and has assured investors that Volvo Car will remain quintessentially Swedish in character.

How geely waited for volvo

Ironically, Volvo Car is now more Swedish under Geely's ownership than when it was under Ford, as seen in its newfound autonomy. Where in the old days Volvo was forced to compromise its Swedish engineering ideals and share parts with Jaguar and other Ford models, today, Volvo Car maintains full control of its product plans.

This is a perfect marriage. This is nothing at all like the Ford-Dearborn relationship of full ownership. Like cars, companies too have lifecycles attached to them. At different points of an organisation's growth, different styles of leadership are required.

Volvo Car's operations in Malaysia is helmed by Keith Schaefer, a man who has spent most of his life with Volvo, even before he started working. Keith is one very unconventional leader, and certainly one that Volvo Car needs at this junction. Although he has worked with the Volvo brand all his life, including stints at Volvo the truck makerbefore moving to Volvo Car, Keith still retains an uncanny ability to look at things beyond Volvo's own perspective, a rare trait among people who have spent many years in the same organisation.

His last posting in Russia earned him a bit of a reputation for being a rebel. Adding to the challenge of relocation was a brewing global financial crisis that waited for him at his new job, and he had only a small marketing budget and an aging model line-up to work with.

The Volvo XC90 Black Edition, a special model created by Keith for the Russian market, played a pivotal role in improving Volvo Car Russia's sales, even when the industry as a whole was in a downturn. The XC90 Black Edition is one car which is very memorable to Keith, for that experience thought him many things.

I was rather desperate when I did the Black Edition if I may be completely honest with you. This was in Aprilthe stock market had collapsed in Russia and all over the world, Lehman Brothers and so on. We had fantastic growth in Russia, and then it just collapsed.

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I remember it exceptionally well. It was snowing, it was cold, it was windy, and I remember asking myself why did I move from nice Kuala Lumpur to Russia, where I didn't have my family with me. And I was looking around and I saw everyone was dressed in black, and I wondered 'What is with this country?

They even dressed in gloomy black. It's not the pleasant white snow that they show you in the movies, but the snow that fell in the city area was dark in colour, and the lack of sunlight makes it rather depressing. It's already grey here with the snow. I took a little bit of a risk because I had quite a reduced marketing budget at the same time, since the volume had dropped off quite substantially.

But sometimes, you have to take a little bit of risk in your life. Of course, this is a Russian car and this is what the people want. Keith still keeps a copy of the XC90 Black Edition's advertisement. That's it, nothing else. That was the only thing I did for six months.


I used the billboards because it is a constant traffic jam in Russia. I couldn't do it on TV because I didn't have the money. It played a pivotal role in pulling Volvo Car Russia out of the doldrums.TIL Mythbusters has saves lives: a woman trapped in her car as it filled with water recalled the episode with the Underwater Car Myth and waited until the pressure equalized to open the door.

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Geely and Volvo have also started cooperation on R&D, and are negotiating about technology transfer. This will give Geely a great support in its development of the technology.

How geely waited for volvo

At the same time, this acquisition gave Geely a good opportunity to advertise itself to the world. What likely sped up development of Terrafugia's Transition was the firm's acquisition by Volvo parent company Geely in appearance at her book talk as thousands waited outside in the cold.

Geely is the largest independent car manufacturer in China and earlier last year Zhejiang Geely Holding Group, parent company of Geely Motor Holdings, acquired Volvo Cars . Volvo Car is currently at the cusp of new beginning.

Having finally broke free from Ford's stifling bureaucracy, who seriously limited Volvo's autonomy to build cars the way its engineers saw fit, Sweden's most famous automotive icon is now in better shape than ever before.

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