Geely Heads Ford’s List of Volvo Bidders
By Chris Weiss
Volvo C70
Geely, a Chinese automaker that’s brought us some pretty swank rides, is at the top of Ford’s short list in the bid for Volvo. Ford has confirmed this, and vice president and CFO Lewis Booth said in a press release: “Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. But there is much work that needs to be completed in the more substantive discussions that are agreed to take place. We have no specific timeline to conclude the discussions.” Geely is the fourth largest auto exporter in China. Ford intends to work closely with stakeholders including the Swedish government, unions and shareholders in finalizing the sale. [via WCF]
