Volvo No Longer Subsidiary of Ford in India !
Posted on October 31st 2009Welcome back!
Now Volvo India is separate manufacturing company, and no longer a subsidiary of the Ford India Ltd. Since the Ford Co. has declared a Chinese car manufacturer Geely as its preferred bidder, it has severed its bond with the Ford India.
The process which started in May should help in case of a possible sale. It will help avoid complications.
- Mr. Paul de Voijs (MD, Volvo India).
Volvo India has modified its name to the new title – Volvo Auto India Private Limited, with an effect from 1st October 2009.Ford India had acquired the Volvo Cars from Volvo AB as a division of their Premier Automobile Group in 1999. In 2008, Volvo arrived in the country and started to work as subsidiary of the Ford India.
According to Mr. Voijs, the Volvo sale would not have an effect on Ford’s plans (like part supplies for the Volvo products etc.)
Short-term changes won’t affect our long-term plans for India. We do not believe in setting up a huge network at first , but instead, we believe in the gradual process to build our strength in terms of volumes as India is a huge market.
- He added.
By editor in Auto India News, Auto Industry News, Ford, Volvo
Rahul responded on 02 Nov 2009 at 4:28 am #
This is certainly not a good news for Ford! Bnut we should wait and watch whether Volvo will benefit from this whole deal.
Rahul
Indian Car Advisor (Carazoo.com)