As announced earlier this morning, Zhejiang Geely Holding Group Co., Ltd., one of the fastest-growing car manufacturers in China, has completed the acquisition of 100 percent of Volvo Car Corporation from Ford Motor Company.
Geely also announced that Stefan Jacoby, the Chief Executive of Volkswagen Group of America, would become President and Chief Executive Officer of Volvo Cars.
“I am honoured to join a company with the prestige and growth potential of Volvo,” said Stefan Jacoby, the new President and Chief Executive of Volvo Cars. “Our employees, suppliers, dealers – and above all our customers – can be confident that Volvo will preserve its special status as the industry leader in vehicle safety and innovation – even as it pursues new market opportunities.”
Guess the only thing Jacoby will miss about Volkswagen is Katy Perry at model launch events.
– By: Omar Rana