China's Geely to consolidate branding, sales

Newswire

By Samuel Shen and Norihiko Shirouzu BEIJING, April 18 (Reuters) - Geely Automobile Holdings Ltd , whose parent company owns Swedish carmaker Volvo, announced on Friday a plan to phase out its three brands and consolidate them under the Geely name as part of a restructuring effort to shore up sales and cut costs. Geely, controlled by Li Shufu, the Chinese billionaire who acquired Volvo in 2010 through Geely's parent company, currently sells cars in China under ...

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