Despite Volvo being a Swedish company, the trouble-stricken carmaker may have to look to the Belgian government for financial aid to help keep it on its feet. Volvo currently operates a plant in the Flanders region of Belgium, and the Flemish Premier Kris Peeters has been in talks with Volvo CEO Stephen Odell in regards to securing loan guarantees for the carmaker to the tune of €300 million ($418 million).
Belgian media outlets are reporting that Volvo and the Flemish Premier are hoping to work out a deal by June 7, just days before the region’s elections.
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