Volvo Future "Bright"
Ford’s CEO Alan Mulally says that Volvo will have a “bright” future under the management of the Chinese automaker Geely, once the sale is competed.
Ford is spinning off its Swedish unit. Mullally told Reuters that they are not considering any other bidders, but didn’t give a specific date for when the deal would close.
The future of the other Swedish-based car division, Saab, remains uncertain. Its American owner General Motors has rejected all bids so far, and has begun liquidation proceedings. The Dutch sports car company Spyker says it has upped its bid in a last ditch effort.