Despite a report by Wall Street Journal that Ford Motor Co. is currently analyzing Geely Automotive’s bid to purchase Volvo, CEO Alan Mulally would only state that Ford’s plans for the sale of Volvo are “progressing.” Last Friday, Mulally was in Chongqing, China, at a ground-breaking ceremony for a new 150,000-unit factory that will increase Ford’s production capacity in the country to 600,000 by 2012.

He declined to say which companies Ford has been talking with. On the other hand, Geely Automotive has been upfront in saying that its parent company wishes to buy the Swedish brand. The Wall Street Journal reported that Ford is still studying Geely’s bid to acquire 100% of Volvo for about $2.5 billion. It is widely believed that Geely is leading the pack of interested parties that want to buy Volvo from Ford.

Tags: car news, geely volvo sale, volvo sale, volvo sale news

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