Geely Would Like To Buy Volvo… But Will Ford Let Them?

Reports | Dean | June 23, 2009 at 00:07

Reports from China are indicating that Ford are in talks with Geely, the Chinese automaker, to sell the Volvo Cars brand. The reports have said that Geely are planning to start production on a new Volvo car in China. It’s been said that Geely are prepared to invest US$10 billion into this deal.

Volvo has denied these reports by saying, “An announcement related to the sale of Volvo Car Corp. would only come from Ford Motor Company,” it said in a statement. “As of today, neither Ford Motor Company nor Volvo Car Corporation in Sweden has made any announcement regarding the sale of Volvo. Reports of such a sale by any media outlet are speculative and, therefore, are not accurate.”

[s:worldcarfans]