The Swedish from Volvo seem to have serious ambitions and plans even though they’ve recently changed ownership from Ford to Geely.
They are now seeking a serious loan from the European Investment Bank in order to get they’re plans rolling.
Volvo received a €200 million loan from the European Investment Bank in March of this year, and sought another €300 million to cement its finances as it navigated the process of being sold by Ford. However, since Ford and Geely reached an agreement €300 million were put on hold.
With that sum in mind, the Swedes feel they are now in a position to claim the rest of the transfer and that’s not all. Volvo is now attempting to get a loan totaling €600 million. That sum is clear, what is unclear is the discussions Geely are having with the Swedish government on the issue.
When it all clarifies hopefully the company will be getting the money they need to put together their latest announcement, that in which they claim to want to hit the market with what they describe as a rival for the 7 Series and the S Class. I for one, would call that a new S80 but that’s just me. Or is it?