Ford confirms its intention to sell Volvo to Geely

Ford still has not divested from the full set of brands it owned. After the major sale of Land Rover and Jaguar to the Indian group Tata, negotiations over the sale of Volvo continue. From the outset, rumors have circulated that the Chinese brand Geely could be one of the contenders to take over the Swedish marque.

Now, Ford has confirmed that the group bidding most aggressively for Volvo is Geely. Even so, no date has been set to close the sale of Volvo, and the Swedish government is also taking part in the negotiations.

Geely is a relatively recent brand. It began in 1986 manufacturing refrigerators and household appliances, moved into the motorcycle sector in 1994, and entered the car market in 1998. Its sales figures are very good, at around 140,000 units (in 2009, in China and Latin America), and it is also the manufacturer of the popular London taxis.

Source: Autoblog en español