Geely Deal for Volvo Expected Sunday
It appears likely that the agreement to sell Ford’s Swedish unit Volvo Cars to the Chinese automaker Geely will be signed Sunday. It’s expected to be announced at a press conference called for Sunday in Gothenburg, in which top executives from Ford, Volvo, and Geely will be taking part.
On Saturday Volvo unions withdrew their previous opposition to the deal, telling the press they had received the details on the agreement they had asked for.
China’s Vice President Xi Jinping arrived in Gothenburg Saturday evening, and he is expected to visit Volvo’s factory there Sunday.