The following is a continuation of the previous chapter.
Seventy years of 'destroying' relationships
Let's get back to Volvo.
In Sweden, it is said that the three V's, Volvo (car), Vovve (cute dog), and Villa define success in life.
In other words, they are the soul of Sweden.
However, as mentioned earlier, Volvo Cars had been acquired by the Geely Group ten years earlier. In February of this year, the company was considering a merger with Geely Motors.
Let me give you a brief overview of the events leading up to this point.
In 2002, when Xi Jinping took over as head of Zhejiang Province, he inspected Geely Automobile and said, "We must develop private companies like Geely.
At the Shanghai International Motor Show in 2007, Xi Jinping, who took over the top job in Shanghai that year, said, "I want to see Geely Automobile's global expansion become a reality as soon as possible.
At Geely Automobile's big moment of triumph, Xi Jinping was always present.
With his rise to prominence, the Geely Group was on a breakneck pace.
The Geely Group (Hangzhou, Zhejiang Province) acquired Volvo Cars from Ford in March 2010.
It also took over Manganese Bronze, the largest manufacturer of Britain's famous black cabs, failing in 2013.
In 2017, the company acquired a 49.9% stake in Malaysian domestic carmaker Proton.
At the same time, it announced that it would acquire a 51% stake in the British sports car manufacturer Lotus Cars, a Proton subsidiary.
Most surprisingly, in February 2018, the chairman of the Geely Group acquired a stake of about 9.69% in Germany's Daimler, famous for its luxury car Mercedes-Benz February 2018. That's when he became the largest shareholder.
According to Bloomberg, the group's founder and chairman, Li Shufu, invested about 7.5 billion euros in the proposed acquisition.
At the time, the world reported that it saw the acquisition of Daimler's stake as highly political because of Chairman Li's close relationship with President Xi.
As for the "identity of Geely," Chairman Li's wife shares the same name as President Xi's wife, Peng Liyuan's sister (peng Lijuan), so the industry perceives the Geely Group as "the enterprise of President Xi's brother-in-law.
Far from free competition, too blatant 'crony capitalism' can be a brittle sword.
Suppose the Xi administration's position and reputation at home and abroad are still climbing. But it's rapidly being surrounded by enemies on all sides in the U.S. and Sweden and Western society.
If that is the case, it's hard to imagine the Swede willingly giving up his iconic and synonymous Volvo.
The loss of Saab, I heard, has also been traumatic for the country.
The New York Times (NYT, June 14) also reported on this one in passing, saying, "For Sweden's political and business leaders, the Volvo deal has become a new source of controversy.
When the Chinese manufacturer tried to save the Swedish car, it warmly welcomed. A decade later, plans for a complete merger are being discussed in a chilly atmosphere." "Volvo's offices and factory in Gothenburg. The carmaker is in the economic heart of western Sweden,1
It will employ 19,000 people, but there are already concerns in the country that the merger may mean moving Volvo's headquarters to China.
Volvo refused to comment to NYT reporters on the proposed merger, saying, "the details are still under discussion.
Chairman Li promised to "allow Volvo to maintain its name and independence," but would such an "altruistic" deal be adhered to by a Chinese company covered in CPC handcuffs?
In February, it reported that "the new company that will come out of the merger will have access to global capital markets via Hong Kong and later be listed in Stockholm.
But amidst the Hong Kong National Security Law's implementation, it should have scrapped the "through Hong Kong" plan.
The new Volvo model is on permanent display in the arrivals hall at Gothenburg Airport.
It's easy to imagine that this is a big deal for Sweden's citizens, not to mention the citizens who have always prided themselves on saying "Gothenburg is Volvo" and "Volvo in Gothenburg."
Since its founding, Sweden has been a great benefactor to the People's Republic of China.
Moreover, Geng Biao, the first diplomat to serve as ambassador to Sweden, was the first boss Xi Jinping had served as secretary after graduation.
However, he threatened the "country/people who dug the well" and laid sand on his hind legs.
It's clear who is responsible for "destroying" the relationship in 70 years.
Seventy years of 'destroying' relationships
Let's get back to Volvo.
In Sweden, it is said that the three V's, Volvo (car), Vovve (cute dog), and Villa define success in life.
In other words, they are the soul of Sweden.
However, as mentioned earlier, Volvo Cars had been acquired by the Geely Group ten years earlier. In February of this year, the company was considering a merger with Geely Motors.
Let me give you a brief overview of the events leading up to this point.
In 2002, when Xi Jinping took over as head of Zhejiang Province, he inspected Geely Automobile and said, "We must develop private companies like Geely.
At the Shanghai International Motor Show in 2007, Xi Jinping, who took over the top job in Shanghai that year, said, "I want to see Geely Automobile's global expansion become a reality as soon as possible.
At Geely Automobile's big moment of triumph, Xi Jinping was always present.
With his rise to prominence, the Geely Group was on a breakneck pace.
The Geely Group (Hangzhou, Zhejiang Province) acquired Volvo Cars from Ford in March 2010.
It also took over Manganese Bronze, the largest manufacturer of Britain's famous black cabs, failing in 2013.
In 2017, the company acquired a 49.9% stake in Malaysian domestic carmaker Proton.
At the same time, it announced that it would acquire a 51% stake in the British sports car manufacturer Lotus Cars, a Proton subsidiary.
Most surprisingly, in February 2018, the chairman of the Geely Group acquired a stake of about 9.69% in Germany's Daimler, famous for its luxury car Mercedes-Benz February 2018. That's when he became the largest shareholder.
According to Bloomberg, the group's founder and chairman, Li Shufu, invested about 7.5 billion euros in the proposed acquisition.
At the time, the world reported that it saw the acquisition of Daimler's stake as highly political because of Chairman Li's close relationship with President Xi.
As for the "identity of Geely," Chairman Li's wife shares the same name as President Xi's wife, Peng Liyuan's sister (peng Lijuan), so the industry perceives the Geely Group as "the enterprise of President Xi's brother-in-law.
Far from free competition, too blatant 'crony capitalism' can be a brittle sword.
Suppose the Xi administration's position and reputation at home and abroad are still climbing. But it's rapidly being surrounded by enemies on all sides in the U.S. and Sweden and Western society.
If that is the case, it's hard to imagine the Swede willingly giving up his iconic and synonymous Volvo.
The loss of Saab, I heard, has also been traumatic for the country.
The New York Times (NYT, June 14) also reported on this one in passing, saying, "For Sweden's political and business leaders, the Volvo deal has become a new source of controversy.
When the Chinese manufacturer tried to save the Swedish car, it warmly welcomed. A decade later, plans for a complete merger are being discussed in a chilly atmosphere." "Volvo's offices and factory in Gothenburg. The carmaker is in the economic heart of western Sweden,1
It will employ 19,000 people, but there are already concerns in the country that the merger may mean moving Volvo's headquarters to China.
Volvo refused to comment to NYT reporters on the proposed merger, saying, "the details are still under discussion.
Chairman Li promised to "allow Volvo to maintain its name and independence," but would such an "altruistic" deal be adhered to by a Chinese company covered in CPC handcuffs?
In February, it reported that "the new company that will come out of the merger will have access to global capital markets via Hong Kong and later be listed in Stockholm.
But amidst the Hong Kong National Security Law's implementation, it should have scrapped the "through Hong Kong" plan.
The new Volvo model is on permanent display in the arrivals hall at Gothenburg Airport.
It's easy to imagine that this is a big deal for Sweden's citizens, not to mention the citizens who have always prided themselves on saying "Gothenburg is Volvo" and "Volvo in Gothenburg."
Since its founding, Sweden has been a great benefactor to the People's Republic of China.
Moreover, Geng Biao, the first diplomat to serve as ambassador to Sweden, was the first boss Xi Jinping had served as secretary after graduation.
However, he threatened the "country/people who dug the well" and laid sand on his hind legs.
It's clear who is responsible for "destroying" the relationship in 70 years.
