China car maker snaps up Volvo

Domestic car firm Geely looks to leapfrog competition by going global.

    A growing middle class in China has increased the demand for cars in the world's most populous country.

    China has several home-grown automakers, but most lack the quality or safety records of more established foreign brands.

    In an effort to leapfrog the competition, Geely, one of China's largest carmakers, has bought a majority share in the Swedish car firm Volvo for what analysts say is the bargain price of just under $2bn.

    Al Jazeera's Divya Gopalan reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The great plunder: Nepal's stolen treasures

    The great plunder: Nepal's stolen treasures

    How the art world's hunger for ancient artefacts is destroying a centuries-old culture. A journey across the Himalayas.