Autocar.co.uk on Thursday
said Geely Automobile of Hangzhou is interested in buying the Swedish automaker, which Ford put on the block earlier this month in an effort to raise cash and restructure its operations. Geely executives according to the report visited Volvo's Gothenburg headquarters earlier this year but were turned off by the $6 billion price tag Ford had put on the unit at the time.
Geely is the latest of a number of Asian brands that have been linked to Volvo, joining Shanghai Automotive Industry Corp., Chery Automobile and Changan Automobile. But it remains uncertain Ford would be willing to sell to any of those companies, mindful as it is to protect intellectual property it shares with Volvo as part of the two companies' cross-development of platforms over the years.
Ford, according to sources, hopes to sell Volvo to a nonauto buyer who would allow the unit to continue ongoing collaboration and is seeking Swedish investors interested in returning the auto company to its roots. But if rumors are to be believed, if nothing else Ford apparently has options for the money-losing Volvo brand. -
Lou WhitemanSee Autocar.co.uk postSee previous Dealscape post on Chinese interest in VolvoSee DealWatch: Autos
Comments
Add another Chinese automaker to the growing list of rumored bidders for Ford Motor Co.'s controlling stake in Volvo Cars AB. 
They better close the deal fast. Geely's finances are less than promising...