The subprime mortgage crisis can be explained in disguise as an economic crisis. Once an economic crisis occurs, Western companies will have a hard time.
Almost every industry is having a hard time, including some high-tech companies controlled by the United States.
Ford is having a hard time now. If it weren't for the joint venture in China to support it, it would probably have gone bankrupt.
Seeing that things were going badly, Ford began to divest some of the group's non-performing assets.
In fact, since 2007, Ford has sold its Aston Martin and started looking for buyers for Jaguar and Land Rover.
Li Fu had long had his eye on Volvo and had previously approached Ford, but Ford said Volvo was not for sale.
Li Fu was attracted by Volvo's R&D capabilities and had little interest in Jaguar and Land Rover.
It is said that there is nothing in this world that is determined not to be sold. The Volvo, which Ford vowed not to sell the previous year, was put on the shelves in 2008.
The subprime mortgage crisis that began in 2007 caused Ford to lose tens of billions of dollars that year, and its position as the world's leading automobile manufacturer was lost to Toyota. Even the second place was taken away by Volkswagen.
If Ford does not sell some loss-making projects at this time, the big ship will probably sink.
In this way, Li Fu bought Volvo for 1.8 billion euros.
At that time, Volvo was very reluctant to commit to Geely.
After all, it is an influential brand in the world, but what was Jili at that time?
It doesn't even rank in China.
Everyone knows that Nanwan is the leader among China's current car companies, followed by Changan Automobile, Second Automobile Works, Shanghai Auto, and GAC. Geely is currently ranked around eighth or ninth in China, and Volvo is certainly not happy with this.
But there's nothing we can do. When we can't even afford to eat, there's no point talking about moral integrity.
The entire European and American economies are in recession, and if no one takes over in Asia, they will all be doomed.
This was also the reason why Volvo was sold to Geely, and Land Rover and Jaguar were sold to India at that time.
No one in the world buys it.
Li Fu asked Wan Feng why he didn't take this opportunity to acquire European and American car companies. If Nanwan wanted to acquire them, Land Rover and Jaguar would definitely not be acquired by Tata, the third brother's company.
Wan Feng shook his head: "I can't handle those European and American unions, so I won't get involved in that mess."
European corporate unions can still get by, but Wan Feng will not play along with those vampire-like unions in the United States.
Nanwan has quietly entered the top 15 manufacturers in the 2008 global automobile manufacturer rankings.
Although it ranks last, this is already the highest ranking of a Chinese automaker among global automakers.
Last year, Nanwan Group itself sold 910,000 vehicles.
If the sales of the consortium are included, there will be no problem in entering the top ten.
However, nearly half of these 900,000 vehicles are pickup trucks, so the sales value is not very high.
Nanwan Group's sales target for 2009 is to exceed one million vehicles.
When Li Fu acquired Volvo, he consulted Wan Feng and received his moral support.
This sounds a bit derogatory. What's the point of just spiritual support?
But this is not Wan Feng's fault. If Li Fu made any financial requests, Wan Feng would also be obliged to do so.
The country strongly supports domestic companies acquiring foreign companies, so Wan Feng doesn't need to worry about funding at all.
Even if Volvo is extremely reluctant to commit to Geely, it cannot be denied that selling itself to Geely is a win-win situation.
By 2018, in just ten years, its value had soared more than tenfold from the 1.8 billion euros when Jili acquired it.
Experts estimate that its value has reached about 20 billion euros in 2018.
Although Geely's cars do not use Volvo engines, they have indeed made a qualitative leap in terms of appearance and various technologies.
By 2018, it had become one of the most promising car companies in China.
Some of its brands have changed their rustic image and acquired some aristocratic charm.
While the West was trapped in the subprime mortgage crisis and was suffering, China's GDP exceeded 3 trillion US dollars in 2008, an increase of 9% over the previous year.
With such a high economic growth rate, people's income began to increase significantly, and the wage levels of people across the country began to change dramatically.
This naturally drives various types of consumption, among which automobile consumption grows even faster.
But even though the situation was so good, there were also some discordant voices, such as the milk powder incident that caused a lot of controversy at the time.
Wan Feng does not know the truth of this incident, but he believes that it is definitely not as extreme as reported by the media.
When a major event occurs, we can basically judge whether it is right or wrong by looking at who the final beneficiary is.
After this milk powder incident, China's milk powder industry suffered a heavy blow, and foreign milk powder industries occupied China's positions on a large scale. It is clear that this matter will not be that simple.
Wan Feng firmly refuses to believe that there is no foreign force behind this.
But this matter has little to do with him. His children are grown up now and don’t drink that stuff.
Not to mention when they were older, he didn't allow his children to drink milk powder even when they were young. Neither of his two children had ever drunk milk powder.
If you feed your child milk powder from the day he is born, it’s all useless.
There is a scientific reason why hospitals advocate breastfeeding.
Wan Feng despises those parents who feed their children milk powder from a young age for the sake of their own body shape.
The milk powder issue just flashed through Wan Feng's mind. Nanwan Group does not produce milk powder, so this matter has nothing to do with him.
June 26th was the day after the death of pop king Michael, and the day when Bilibili was launched.
Huaguang Electronics has launched a memory device: 100nm 1GB DDR2 memory, priced at 99 yuan.
Also in 2009, on February 25, Sansheng developed the world's first 100nm 1GB DDR2 memory, but it has not yet been commercialized.
Sansheng was planning to release it in June, but a minor issue arose and the launch of this memory was postponed to July.
Sansheng priced this memory at 280 yuan, but what made them very upset was that just when they were preparing to release it, Huaguang took the lead in launching it.
And the price is like a stab in the heart for them.
This price is just the cost price! If the three animals are sold at this price, how can they make back their investment?
Do you still want to make money from investment?
Haha! I've been keeping a low profile these past few years, keeping all the good stuff at home and not daring to use it. Look at what you can do, you can raise the price if you want, and you can lower the price if you want.
Come on! Let me show you some color.
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