For some years, among a small number of American automobile enthusiasts, there has been almost a “cult” of admirers of the Swedish-built Volvo automobiles.
The Volvo lacked style. (It had been quite boxy, although it became just a little bit streamlined in recent years.) But Volvo lovers admired Volvos for their reputation for “dependability.” After all, the Volvo originated in a relatively “cold” country.
But Volvo was bought, somewhat surprisingly, in 1999 by the U.S. Ford Motor Co. for $6.5 billion. Many wondered why. Somehow, that just didn’t seem to “fit” Ford, mechanically or economically.
But now there’s an even bigger surprise. A Communist Chinese car company has moved to acquire Ford’s money-losing Volvo!
China has become one of the world’s biggest car makers, along with the United States, Japan and Germany.