Reported Chinese Interest in Volvo
There are reports that a Chinese automaker is considering buying the Swedish-based Volvo unit from Ford.
The Associated Press and the Wall Street Journal both say a team from the Beijing Automotive Industry Holding company is expected to meet with executives at Volvo’s headquarters in Gothenburg.
Previous reports have indicated that three or four companies are interested in acquiring Volvo from Ford.
Last week the European Union approved Swedish government guarantees so the European Investment Bank can loan Volvo more than 700 million dollars.