Geely is FoMoCo’s preferred bidder to purchase Volvo
By Andrew C., 26 Aug, 2010. 0 Comments
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More detailed negotiations will soon start between Ford Motor Co. and Chinese automaker Geely Group Holding Co. over the bidding to purchase Volvo Car Corp. In a statement, Ford Chief Financial Officer Lewis Booth, said that Geely, its preferred bidder, has the potential to be a responsible future owner of Volvo. Booth expects that Geely will be able to take the business forward while preserving its core values and independence. Ford said if ever a sale will come to pass, the carmaker does not want to retain shareholding in Volvo; however, it will continue to work with the automaker in many areas.
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