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Chinese firm linked to Volvo sale
11 June 2009
Beijing Automotive Industry Holding Corporation is the latest Chinese car maker to be linked to purchasing Volvo from Ford.
Reports in the Wall Street Journal newspaper say that a team of BAIC executives is likely to visit Volvo's Gothenburg headquarters imminently to meet with its executives and tour its research-and-development and manufacturing facilities.
BAIC most recently hit the headlines in europe when it expressed an initial interest in Vauxhall/Opel earlier this month.
Other mooted Chinese buyers of Volvo include Geely Automobile Holdings, Ford's China partner Chongqing Changan Automobile Co., and Chery Automobile.
BAIC is reported to be readying its first self-developed car for sale in 2010. It currently only makes Mercedes-Benz and Accent cars at joint ventures with Daimler AG and Hyundai.
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