Carmaker Ford in the US has reached the point in discussions with Chinese holding company Zhejiang Geely over the sale of Volvo where it looks likely to go ahead, reports Bloomberg. Ford has been trying to get back to focusing on its Ford division by selling off the luxury European brands it took on. Geely is reported by the Detroit Free Press to be offering less than one-third what Ford paid the Swedish automaker for the brand 10 years ago.
Links to other sites: Bloomberg, Detroit Free Press, Zhejiang Geely
Posted by :: Ellen Wallace on 23 December 2009 at 9:38 | permalink
News story, GenevaLunch, 23 December 2009.
Filed under: World news
Tags: auto industry, carmakers, Ford, sale, Volvo, Zhejiang Geely
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