BELGIUM/SWEDEN:  Volvo asks Flanders for funding

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more



Volvo Cars boss Stephen Odell, turned down for loan guarantees by the Swedish government, has now asked the Flemish government to support the company’s loan application to the European Investment Bank.


Odell wants government-backed guarantees for EIB loans worth EUR200m (US$260m).


The Swedish government said it wouldn’t back Volvo’s case while parent Ford was still undecided about Volvo’s future.


The automaker’s factory in Ghent, Belgium, is in the Flanders region of the country. Odell told reporters that a loan guarantee from the Flanders administration could influence future decisions on where cars are built and developed although he stressed that Volvo would always remain in Sweden.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The opportunities in Belgium are greater in the short term. They also have a more flexible system that increases capacity to retain more employees,” he added.