Geely Automobile Holdings said in a statement on December 23 that it has reached an agreement with Ford on substantive commercial terms including the right to use VOLVO's IPRs. Just two weeks back, Beijing Automotive Industry Holding Group (BAIC) had agreed to buy relevant IPRs of SAAB.

"The important idea gained from Sweden is to develop IPRs of products", general manager of BAIC Wang Dazong said. Innovation resources are not more than product, but to develop the IPRs of it. In parallel, "It is VOLVO's IPRs and 100-year honored brand that attract Geely to take it", according to a Geely official.

(China IP News)