Report: Ford To Sell Volvo To Chinese Firm Soon

  • March 26, 2010 reports that Ford Motor Co. officials say they are looking to complete its sale of Volvo to China's Zhejiang Geely Holding Group Co. "in the next few days" and that a deal could be signed in Sweden as soon as March 28.

The auto news firm says Chinese Vice President Xi Jinping will be in Sweden this weekend and is scheduled to visit Gothenburg, where Volvo is based.

Ford originally acquired Volvo for $6 billion in 1999, and is reportedly selling for $1.8 billion.--Karl Greenberg

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