BMW is still the automaker to beat for Volvo

BMW is still the automaker to beat for Volvo Cars, who has a new Chinese owner named Geely. Geely made the largest foreign acquisition of a foreign auto company in China when they purchased Volvo for $1.5 billion from Ford Motor Co. The owner and CEO of Geely wants the Swedish automaker to directly compete with BMW.

According to Geely, they will invest a lot in research and development so that they can make high-performance luxury vehicles like the BMW 7 Series. There is the obvious pricing difference though. Volvo’s best sedan, the S80, sells for just $39,000; while the cheapest sedan in the BMW 7 Series line, the 740i, costs $70,150 at the very least. Maybe, premium luxury is just not their cup of tea. What do you think?

Source: Autonews