Commentary: China raises stakes for global car market

12/24/2009 | Reuters · Reuters

Chinese automakers' deals to buy Volvo from Ford Motor and Saab technology from General Motors could bring bigger consequences for the automotive industry than their relatively modest price tags suggest, columnist Wei Gu writes. Beijing Automotive Industrial Holding's $200 million purchase of Saab technology could save the company five years of research and development and generate billions in revenue. If China's Zhejiang Geely Holding Group ends up owning Volvo, it will have the advantage of a brand with worldwide recognition and a reputation for safety.

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Reuters · Reuters

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