Car industry

Volvo Bid "Progressing"

Ford's plans to sell off Volvo Cars are progressing well, according to Ford CEO Alan Mulally, speaking to newspaper Wall Street Journal on Friday.

According to the newspaper, Ford are currently analysing a bid from Chinese carmakers Geely Holding Group worth 2.5 billion dollars.

Volvo Cars CEO Stephen Odell is refusing to comment on the rumours, while local union leader Mikael Sällström told news agency TT that they are getting too little information from Ford on the possible sell off, and that they don't yet know enough about Geely.