Investor Israel Corporation To Team Up With Chery Automobile

The largest Israeli holding is making alliance with Chinese manufacturer Chery. Israel Corporation has decided to forge an alliance with Chery, the Chinese car manufacturer. The largest holding of Israel had already invested in an electric car project run by entrepreneur Shai Agassi with the Renault-Nissan to put on Israel's roads next year, an electric version of the Fluence, development and design future vehicles have been entrusted to the Austrian subsidiary of Magna Steyr and Italdesign Italian.

The first step in developing the concept for four future models contsructeur Chinese Chery should be completed in October this year with an investment of 40 million Euros. The energy supply in future vehicles will be provided by a network of charging stations and battery replacement as Better Place, a company whose shareholder Israel Corporation, established on the territory of Israel.

Within three years, Magna Steyr and Italdesign will then develop a plan for a mass production factory to be built in China.

Investments should be around 300 million euros first. Leaders of Israel Corporation will consider, however, that appeal to banks and obtain government subsidies to achieve mobilize another 400 million euros and start production.

Meanwhile, the joint project Better Place and Renault-Nissan, in which Israel Corporation has invested hundreds of millions of dollars, is advancing rapidly. On the financial front, HSBC and Morgan Stanley Asset Management and Lazzard announced earlier this year that they would put an additional $ 350 million into the venture.

2010-04-09 00:00:00 0 Commentaires

Volvo S60 Princing Unveiled

A few days after the announcement of the intention to purchase issued by China's Geely (final signature intervene late in the year), the Swedish manufacturer unveiled the pricing and range of the new S60.

After more than nine and a half career, it became urgent that replaces the Volvo family saloon. In his defense, the uncertainty about the future of the brand was called into question the product plan, explaining the long tenure of the previous generation. Beginning in June 2010, crossing the desert will end but the manufacturer already has opened the order book.

A price / equipment worth

Besides its advantageous physique, incorporating the new aesthetic codes introduced by the XC60, the S60 has a price / equipment interesting. Thus, the range starts below € 30 000 diesel with an endowment of expanded basic security, and rich in elements of comfort.

The V60 will be at the Paris Motor Show

Regarding princing, the Volvo is modeled on its rival the Audi A4 when it appears on average € 2 500 less than the Mercedes C-Class Ray engine, the S60 receives the new 2.0 turbo gasoline direct injection 203 hp, a development pushed to 243 hp is expected in early 2011. Note that the D3 is renamed 2.4D 163 hp and 205 hp D5. In September, the Swedish reduce the power by adopting a 1.6D 115 hp Drive emitting 114g of CO2. Good news, the V60 estate version at the Paris exhibit coming in October and will be available in November.

Kinetic.

ABS. ESP. System anticipation of a collision. Cruise / speed limiter. Dual zone automatic climate control. Electric parking brake. Steering. Board computer. Mirrors electric defrost. Electric pack. Driver's seat height adjustment. 2/3-1/3 bench. Armrests front and rear. Alloy wheels. CD Radio MP3, mats ...

Momentum.

Parking sensors. Power folding mirrors.? Rain sensor. Bluetooth connection. Wheels 17. Summum. more. Leather interior. Driver seat electric. Xenon Lights. Navigation System ...

Xenium.

Electric sunroof. Heated front seats. Radar front parking. Reversing camera. Adaptive Cruise Control. Mirrors BLIS blind-spot ...

Main options (€)

Metallic paint (750). Power sunroof (940). Parking sensors (500). Rain Sensor (120). Navigation system (950 to 1450).

http://www.argusauto.com/actualite-automobile/nouveautes/en-vitrine/nouvelle-volvo-s60-les-commandes-sont-ouvertes-182867.html

2010-04-09 00:00:00 0 Commentaires

Geely Has Now To Face The Managing Of Volvo

Li shu Fu masters relationships

At age 46, Li Shufu, born into a peasant family in Zhejiang in the south-east, has the audacity of a contractor that had experienced economic growth. At 20, he sold refrigerators. Then in Hangzhou, capital of the province, he started a motorcycle factory, which will Zhejiang Geely Holding Group when it begins production of automobiles.

Geely is a small manufacturer, but Li Shufu has the art of finding support. Last year, U.S. bank Goldman Sachs lends 250 million dollars. And, for the purchase of Volvo, it borrows the equivalent of one billion dollars to a group of Chinese state banks. In financial circles western Beijing, one wonders if this aid is not in contradiction with the competition rules of the WTO.

Politically, its industrial beginnings, Li Shufu has moved closer to Xi Jinping, governor of Zhejiang. It now belongs to the group of nine leaders of the Communist Party must strengthen its position as the leading contenders to succeed President Hu Jintao. On March 28, located by chance on an official trip to Sweden, Xi Jinping came to the ceremony to buy Volvo enjoy, in addition to Li Shufu, the impact of the event. In China, the friendships remain a regional basis for policy.

Press worry about Geely ability to pilot Volvo

Obviously, the reputation of the firm Geely has been tenfold. The site Auto-ifeng.com believes that the mass of reports made about the acquisition of Volvo is equivalent to an advertising campaign of $ 2 billion. Many Chinese media detailing the strategy of Li Shufu: owning a global brand known for its security concerns and environmental protection will enable it to develop its own products not only in China but elsewhere in the world.

Congratulations and fears, however, are mixed. The Chinese media wondered how the purchase will be profitable. The turnover of Volvo is in decline and the economic crisis has exacerbated the financial losses of the group. The planned comparisons with the "old European aristocrats of the automobile" as-described journalist Wei-Jinqiao failed. In late 2008 nor Mercedes or BMW neither Renault have accepted the offer to buy at the price Ford proposed. The purchase was made by Geely at 1.8 billion while Ford acquired Volvo for 6.4 billion.

Li Shufu said that Volvo's difficulties came from the small size of its production. On 31 March in Beijing at a press conference, he explained: "A limited production capacity means higher costs per unit." The solution is to have confidence in "the rapidly growing Chinese market growing and to position Volvo as a brand leader, "he said. The existing channels in Sweden and Belgium will be maintained. And a Volvo plant will be installed in China with the goal out 300,000 vehicles per year.

How to manage a European company for a Chinese?

In China, the practices of European capitalism are another source of concern. Several papers recommend to watch closely the amount of payroll taxes. In China news, the journalist Zhao Jie summarizes a widespread feeling: "The acquisition of Volvo is the first step. The next step will be to deal with unions. "Li Shufu said that he was in contact with labor unions Volvo during the 2-year-long negotiation of purchase and they are satisfied with agreement signed with Ford. To reassure them, including Geely announces that the distribution network of suppliers and Volvo will not be questioned.

The aftermath of the agreement in Gothenburg will be followed under the microscope, both by Chinese manufacturers who wish to buy foreign companies and Westerners seeking to sell their business. For his part, Li Shufu is already on another track: Geely has taken a majority stake in Manganese Bronze, which makes London taxis. This British company is currently in deficit.

2010-04-04 00:00:00 0 Commentaires
2010-04-03 00:00:00 0 Commentaires

3 Reasons The Chinese Carmakers Will Be BIG

Signed Sunday, March 28, the acquisition of the Swedish Volvo Geely symbolized by the rise of Chinese auto. The former paradise of bicycles became the first country in automobile, with 105 factories. The breakthrough has been conducted since 2001 - the date of the entry of China into the WTO - by the state conglomerates, grouped around giants (SAIC, FAW, Dongfeng), and foreign manufacturers, with Volkswagen and GM in mind. The late 1990s marked the arrival of new actors: Geely, Chery, Great Wall, Tengzhong ... Very offensive in Africa and former Eastern European countries, these companies try to enter the West via the recovery of jewels such as Opel and Hummer. In vain until Sunday. Geely is the first to succeed. N. S.

Reason No. 1: Irrevocable Nobody could imagine such a rapid boom. Last year, China became the biggest car market in the world, with 13.5 million cars sold (46% compared to 2008). It's not over. More than half of Chinese buyers acquire a car for the first time. Sales should grow by 1 million vehicles per year.

Reason No. 2: Unbeatable First place in China was facilitated by the collapse of the U.S. market. Sales exceeded 15 million vehicles in the years 2005-2007, they have plunged to 10.4 million last year (- 21% compared to 2008). The United States has the largest number of cars per capita: 813 per 1 000.

Reason No. 3: Inevitable Except Renault manufacturers all plant their flag in China, amount of joint ventures with local firms. Most recently, BMW will open a factory in late April in the north. For Peugeot Citroën, which has opened a second site in Wuhan, China is the second country in terms of sales. It is 350 000 sales this year.

2010-04-02 00:00:00 0 Commentaires

Volvo Sold To Geely, Now What With Ford And Chang An?

On the burst in the media, Geely and Volvo on March 28 will sign shortly after the news of the acquisition agreement, Ford Motor Company CEO Mulally help secretly to China March 19, stay 3 days. Contrary to the industry's expected is that, in this 3-day period, Mulally did not meet Geely Auto Group Chairman Li Shufu, but went straight to Changan Automotive Group, with the Group Chairman Xu Bin, president and Xu Ping had to stay closeted.

According to Chang-an insider revealed that in the talks, the Ford side said that if the unlucky after the acquisition of Volvo, previously produced in Changan Ford's Volvo car was lucky to get ahead of production, then Ford would be paid to one Chang-an of funds to make up for the losses caused to the Chang-an.

At present the two sides are still discussing this plan and not finalized.

China is now the world's fastest growing, with the greatest potential, and the best market, Ford Motor has put the Chinese market as the most important "strategic positions" in the planning and development. Mulally to Xu Bin, admits: "Next, Ford Motor will speed up the cooperation with Changan Automobile hopes the two sides reached an agreement as soon as possible to enter the substantive operational phase, and further deepen bilateral cooperation."

For Mulally's position, XU Bin also hope that Ford can be at a higher level of strategic cooperation with Chongqing Changan Automobile started at the same time to deepen cooperation to develop international markets. Bin proposal: "This cooperation may be either the deepening of existing cooperation level may also be a group of dialogue directly with Ford."

The reporter learned from relevant sources that in the future, Ford will launch own-brand vehicles this year in China, to accelerate the pace of product development and an SUV model is expected to be rolled out of Chang'an production line. In addition, Ford will go further with Changan in the new energy vehicles cooperation.

In July 2006, Volvo S40 began to sell in China, it's the first car to be produced in China for Volvo after the "transfer of technology". The Volvo S40 is based on its P1 platform,which is Ford's C1 platform. Quite popular in the Chinese automotive market, Ford Focus and Mazda M3 models are from the same platform. Perhaps precisely because of this platform to coincide Chinese consumers a "taste", the Volvo S40 available after the impressive performance in the Chinese market, its sales of Volvo cars have been accounted for over half of the entire department vehicles. Despite the financial crisis, the Volvo S40 sales in China are affected, but remain strong.

The Volvo cars have not yet made high sales figures.

Volvo XC60, XC70 and XC90 performance and design are on par with the BMW X5, Audi Q5 comparable, but the price point,they are far behind.

If the three models in a can be achieved through the Geely-made, the original price down, then Mr. Li would have to be realized in Gothenburg, Sweden, he said, through the Chinese market to re-enable the promise of vitality Volvo .

However, when compared with Changan, Geely will more effort to give in order to run the Volvo S and XC product line,

2010-03-31 00:00:00 0 Commentaires