By on December 7, 2021

Image: GM

These days, it’s hard to imagine a company better positioned to take on Tesla than Geely-owned Volvo and Polestar. Volvo made headlines back in 2015 when it promised that all new Volvos would be electrified starting in 2019 and ruffled more feathers when it spun off its successful motorsports brand, Polestar, into a purely electrified performance car line. Parent company Geely’s Chinese heritage allows Volvo nearly unfettered access to the all-important Chinese market and allows the company to benefit from economies of scale – through the Geely, Lynk & Co., and Zeekr car lines – that it simply wouldn’t be able to realize on its own.

Over the past 10-or-so years, the Swedish company – once on the verge of extinction – has flourished, going from strength to strength. Ford looks absolutely ridiculous for having sold Volvo, now valued at more than $20 billion, to Geely for “just” $1.5 billion (with Polestar going for another $20 billion, all on its own) back in 2010.

Sure, Ford wanted to fire-sale Volvo – but Ford wasn’t the only troubled American car company holding on to a respected Swedish car brand looking to make some fast cash. With a push here and a nudge there, Geely could have bought Saab, instead.

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