Geely Group (吉利), one of China’s main independent automakers, is considering bidding for Ford Motor Co’s Volvo Cars unit in an alliance with an unnamed investment partner, a company spokesman confirmed yesterday.
Geely, based in Hangzhou, Zhejiang Province, is among several Chinese automakers that reportedly have shown interest in the Swedish automaker, though company officials had earlier denied such reports.
Gui Shengyue (桂生悅), chief executive of Geely Automobile Holdings (吉利汽車控股), the automaker’s Hong Kong-listed entity, told reporters on Tuesday that Geely could team up with a state-owned Chinese investment company to make a bid for Volvo.
Speaking at a briefing in Hong Kong on Geely’s first-half earnings report, Gui said Geely’s parent company, rather than its listed unit, could bid for Volvo.
“Geely is an ambitious company and given current global changes, we really cannot miss out on this move,” the financial magazine Caijing quoted Gui as saying.
Since more than 90 percent of Geely’s capital is tied up in its listed company, the parent company lacks the wherewithal to manage the acquisition by itself, Gui said. But the company would join with either a government entity or some other institutional investor, Caijing quoted him as saying.
Taiwan last night blanked world No. 1 Japan 4-0 to win the World Baseball Softball Confederation’s (WBSC) Premier12 for the first time. Taiwanese ace Lin Yu-min (林昱珉) held defending champions Japan to just one hit and no runs in the first four innings, before catcher Lin Chia-cheng (林家正) opened the fifth inning with a solo home run. That was soon followed by a three-run homer from Taiwanese captain Chen Chieh-hsien (陳傑憲) to put Taiwan ahead in the prestigious tournament of the world’s top 12 baseball teams. In addition to a superb performance from 21-year-old Arizona Diamondbacks prospect Lin, three more Taiwanese pitchers
Taiwan yesterday advanced to the gold medal match of the World Baseball Softball Confederation’s (WBSC) Premier12 for the first time in history, despite last night losing 9-6 to Japan. Taiwan advanced after the US defeated Venezuela in the first game on the last day of the Super Round. However, the US had no chance of advancing to the championship game unless it defeated Venezuela by at least nine points. The US won 6-5. As a result, the two teams — who both had one win and two losses in the Super Round — are to face off again in the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday held an equipment installation ceremony for its first 2-nanometer fab in Kaohsiung, six months ahead of schedule, Kaohsiung Mayor Chen Chi-mai (陳其邁) said. “To cope with the strong global demand for advanced chips, TSMC is to start moving in equipment for its first-ever 2-nanometer fab half a year earlier than scheduled,” Chen said at an question-and-answer session at the Kaohsiung City Council. TSMC’s 2-nanometer process technology would help accelerate the development of artificial intelligence (AI) applications as well as the transformation of local industries in Kaohsiung, Chen said in a
TEAM TAIWAN: While lawmakers proposed declaring Nov. 24 a national day, the CPBL commissioner urged the legislature to pass the budget for sports development Lawmakers yesterday proposed designating Nov. 24 as National Baseball Day and updating the design of the NT$500 bill to honor the national team’s victory in the World Baseball Softball Confederation’s Premier12 championship on Sunday, as thousands of fans came out to see the players parade down the streets of Taipei. Players, coaches and staff from the national team returned home on Monday night after achieving their best-ever performance in an international baseball tournament. After receiving a rapturous welcome at the airport, the players turned out yesterday for a street parade in front of thousands of adoring fans waving Taiwanese flags and
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