Ford has confirmed it is in talks with “a number of parties” regarding the sale of its Swedish subsidiary Volvo. The US giant said it was pleased with both the number and “quality” of those who had expressed an interest, but did not reveal any names. Ford is seeking to offload loss-making Volvo as it continues efforts to turnaround its own fortunes.
In 2008 Ford made its biggest ever annual loss, despite selling Jaguar and Land Rover for $2.3bn (£1.15bn).
Those two UK-based brands were bought by India’s Tata Motors.
According to reports in Sweden, a number of Chinese firms are interested in buying Volvo.
These are said to include Chery Automobile, Dongfeng Motor Group and Chongqing Changan Automobile.
“Ford is now talking in more detail to these interested parties about the future for Volvo,” said a spokesman.
Sorce: BBC News