Quote:
Originally Posted by Lobb
You keep digging yourself deeper into a hole.
My statement was about Volvo cars, many posts ago. Volvo cars is 100% owned by Geely, which is a Chinese company.
I'll explain what a holding company is, to save you having to look it up. A holding company is a "umbrella" which is created to house other autonomous business, but within the overall control of the holding company.
Volvo cars is based in Sweden as the Chinese know, the USP for Volvo cars is this "Swedishness". However, the purse strings are held in Hangzhou, Zhejiang, China.
If there is anything else you would like explaining, please ask.
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Agree. Company I work for bought an English company, people there still think they work for an English company but obviously the U.S. company that owns them feels differently. I have also never been involved with a holding company that wasn't directly involved in all major decisions.
Volvo ownership is Chinese, profits end up in China, you can buy the Chinese built Volvo in the U.S., somehow this looks like a Chinese company to me. Since Geely purchased Volvo they have drastically increased Chinese production of Volvo's (I think from zero), many going to export and I don't believe this was decision made by the Swedish.