China owned Volvo asks for $1.2 Billion from Swedish Government
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- China owned Volvo asks for $1.2 Billion from Swedish Government
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And here we are complaining about chinese subsidys and putting tarrifs on their cars :D
You're wrong about Volvo not producing cars in Sweden. They produce 1250 cars/day of the 60- and 90-series in the Torslanda factory in Gothenburg. R&D, Engineering, Software development and Design are also still done in Gothenburg.
Volvo is still Swedish, but they are not producing personal vehicles, what has been sold in past to Ford and later to Geely is Volvo Cars.
Why would Geely share it's battery IP with Northvolt? President Xi explicitly told Chinese battery makers and EV makers not to share IP when expanding abroad.
NorthVolt that is privately owned battery manufacturer has been riddled with problems including fatal accidents. A Chinese run one would have access to their supply chains so that will be much better.
I'm sure the EU government is frothing at the mouth trying to think how to impose restrictions on Geely cars 🤣
I drive a XC90 PHEV. Hands down the most luxurious driving experience in all EVs. Not to mention the safety
It’s s good investment for Sweden, to keep high-end knowledge in the country, and thereby high-end technology companies. It’s very essential!
It could be argued that Volvo like Tesla is actually an energy company that also makes EV cars.
You break it, you buy it. Call it a tax for the intellectual property theft.
Sweden should jump on this. They will be the only modern automaker outside China and Tesla. Legacy will have a cow.
US$ 1.2 billion isn't much. The german mini project Stuttgart 21 costs over US$ 11 billion.
Just ask the people at Volvo in Gothenburg; yes, they do design and engineering the Volvo cars there!
There are still Volvo cars made in Sweden and the EX60 is planned to be build in Gothenburg
same problem in Québec , Canada
Sounds like the BIG B.
?????
BOMBARDIER 😅😂😅😂😅😂
@@loktom4068 but not... Bombardier isn't Chinese.
Most new cars and now EVs in Sweden are company cars. Over 300,000 cars are every year changed to new new cars with new leases and most companies want to show they care about the environment and hence offer only EVs to their employees. Barely any new EVs are bought privately.
Geely battery is really good 👍🏼
The Canadian government contribution to the Volkswagen gigafactory in St. Thomas is $13b.($10b. U.S.). The fact that batteries are going to be made for Volkswagen cars in St. Thomas means those batteries are exported to the U.S. under the USMCA.
Ever wonder how much more expensive these VW EVs will be in order to earn a return on a $13B factory? It's just not a competitive product price-wise or tech-wise
@@ladygracienyc2029 I think ppl are taken aback at how little their money buys, especially for manufactured goods. The deterioration of purchasing power is real, though the cars themselves are being held to a much higher standard technologically. The subsidy is over time, and not a single expenditure. The U.S. offered less.
The story for Canadian parts manufacture is that production stalls in a major recession, and the OEMs go bankrupt.
Geely, Chinese manufacturer
Las Vegas spent more money on a football stadium that is used for its intended use 8 days a year--they do hold concerts there but if Allegient Stadium is used even 100 days a year I will be shocked. It is much better to spend that money on a battery factory that will be used 24/7/365 and has an actual chance to pay back the investment than to subsidize some billionaire's hobby.
so cheap and useful as compared to the Australian submarine contract.
Jobs for the Swedish people...who fuXked it up when they didn't sell a part of Volvo to the Norwegians for some natural goods in return...and then Norway went rich. 🤣🤣🤣
When Volvo was really Volvo they made uniquely strong cars, like the 240 that with car would last a very long time. I had two of these many years ago. Fantastic and cheap to repair, on the rare occasions that was necessary.
Since they were bought by Ford and then Geely, they make cars that are neither better nor worse than many rivals, cheaper and more expensive.
It is Sweden's own business whether they go for this grant of tax-payer money to Geely. I suppose it will be based on a cost benefit analysis and not so much on a loyalty to the Volvo marque as such by now.
Norway never made a serious effort to build cars, but they do make very good oil rigs and other ocean going craft, and marine engines. I suppose it depends on how strong the market still is for Sweden and across Europe, and whether this justifies the grant.
Best wishes from George in UK.
PS: Half British and half Norwegian.
Thank you for your continuing excellence information
Always like Volvo but when China acquired them; I will have nothing to do with them. Same when IBM sold their PC Notebook division to Lenovo, a Chinese company.
MG and Lotus are Chinese too. There are a lot of Korean components in Fords and GM's.
Just say "no". These companies thinking the people should just throw money at them by either tax write off's or payments are insane. Stop doing this stuff!
No i did buy byd thats not IPO and making a. Profit received 1100 dividend last quarter
The battery plant could be benefit to the commercial vehicle production in the local.
Seems a number of large battery factories are coming to Europe, prior to the Swedish Nothvolt plant announcement the UK had two largest factories announcement. These being the 40GW Tata factory in Somerset, and the Envision AESC 38GW one in Sunderland, both of these are being funded by the companies (£4bn Tata and £1bn Nissan/Envision) but with UK government support.
How come the Chinese people say that the ranges and battery durability are not what you are saying. They are the laboratory by the way.Are they paying you?
Great marketing idea. This car will swamp Europe. All the people don't want a Chinese car will fall over themselves to have this and feel good about themselves.
Pagers, walkie talkies, EV batteries....
Zionists
I assume this is about Volvo Cars which Geeley owns outright and not Volvo AB, the former owner of Volvo Cars.
My Volvo s80 has ford explorer components inside! It’s a 2010.
No. NO! ABSOLUTELY NOT!
Because?
I think cars should be for local driving,Public transportation is better
I think the Swedish goverment has money "enough" as all Skandinavian countries. And Holland as well, by the way.
first comment. damn i didn't know Volvo was a Chinese company. brother in law has a XC60
It's a Swedish company and it is based in Sweden, majority of voting rights aka owned by Chinese company Geely.
Then nio could be german too ( Design in Munich )… Like Volvo only Part of the Design is in sweden … for How Long ? European Designers will all move to China … no Need to keep an expensive Center in Europe
May your next car from Jaguar or Land Rover.
Here , hold your TATA tea ☕️ cup.😅😅😂😅😂
It does not make sense! Let then by from Northvolt. They are in trouble maybe this help Northvolt?
The more we do not care where good progress come from,
the earlier we change
There is another big battery factory in Europe. Take a guess which country - starts with a G
Northvolt is about to go bankrubt, so I highly doubt it
Like Bombardier of Canada.
Go check it out kiddos.
but not... Bombardier isn't Chinese.
Swedish government could take a little bit of ownership not just give subsidies
Hell no. The government should never get involved.
volvo makes 1250 combustion car per day in its Torslanda factory.
how about goverments stop giving out billions, oems need to start to give up some money to fund this, if they want a billions then the oem should give up the same ammount
Might be a good investment if Sweden gets a cut of the profits.
volvos are still made in sweden bro. i was looking into a european delivery progam
If the chinese put enough of their money in, i think the swedes should do it. so long as the chinese have skin in the game, i say put in the 1.1 billion. electric car and battery production costs money. But this is something sweden can afford, go for it i say.
Northvolt is im trouble, no cash
Volvo Will make Cars in Europe also
Either these types of investments are needed or accept chinese imports.
I would give loan
Gee - the bots are strong in the comments section today... :(
and Canoo is up shit creek without a paddle
Volvo was bankrupt. Geely turned Volvo around with massive investments
Volvo was not bankrupt dummy . Where did you get that from
we have rightangel goverment in sweden they helping nobody
Northvolt seems to be run by amateurs
只要能畅销，管他是什么地方出的，姓中姓瑞不重要。孩子优秀和爹妈姓没什么关系
A Chinese production equipment supplier has (allegedly) sabotaged Northvolt’s production. Viking, look it up, it will make for a good video.
In exchange for equity. If the company isn’t viable then that should count for a lot if shares.
Socialism for thr rich
Bad deal for sweden
Let them better ask for money to buy themselves back. We used to love Volvo because they were Swedish back in those days, but they've lost themselves.
A Chinese production equipment supplier has sabotaged Northvolt’s production. Viking, look it up, it will make for a good video.
Geely i dont understand today okay joint adventures if zeekr technology is geely with no joint ventures tell me the difference first no joint venture so in theory that profit is all yours right its The technology geely all brands doesn't zeekr technology get this plus anything they come up with because of the nature of The joint ventures and zeekr technology gets this because as they would say in the United States without this would possibly systemic risk so they can lease out the technology even their joint ventures Plus protect their own brand meaning this higher end price range cars tells me first global is there goal and its never going out of business regardless it can't The cars are built on a platform its IPO stock is down 38 % i am down Around 24% yes i understand why i am looking out 5-year because many ev companies will be gone in China this is the biggest reason a IPO in China in 2024 only one company i would risk this or it means China's uninvestable does anybody really know on this channel these questions?