Essay: Chinese automotive industry

Sample Essay

After the credit crisis of 2010, industries all over the world were greatly affected by the economic setback. It is equal to a paralysis for economies that rely more on debts. Ford is one example here, which seemed keenly awaiting for the acquisition of Volvo by Geely.

In the recent past Chinese economy has shown a dramatic growth in manufacturing sector having the advantage of low labor costs. Likewise its economy, the Chinese automotive industry is also the largest growing industries in the global market. The country has been trying hard to enter the western markets but failed more and more due to the low quality cars. However, china realizes the fact that it has a great advantage of cheap labor. This is the reason why china wants to set a plant in its country for Volvo. The acquisition does focus on the factor of china’s weakness as going globally to sell automobiles. The new factory aims at producing 300,000 Volvo cars per year through economies of scale (Morley, n.d). Geely’s later concern was to maintain the image Volvo had before being acquired. The technology remained a core factor for Geely to design and safe and eco-friendly vehicles (Xinhua, 2010).

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