Chinese firm still hopeful of buying Volvo from Ford, despite reports claiming otherwise
19 March 2010

Geely still expects to sign a deal to buy Volvo from Ford by the end of March, despite the Chinese firm’s chairman claiming the deal had hit a snag.

Geely’s chairman Li Shufu told journalists at a company-affiliated Chinese university that the firm was “ready to seal the deal”, but factions within Ford were causing a delay to proceedings.

Li said negotiations were at an advanced stage and were constantly evolving. At this stage, he said, Geely was still expecting of securing Volvo, although if the deal were to collapse it would not have been caused by a “problem on our side”. He didn’t elaborate on why talks were potentially stumbling.

Despite Li’s comments, a Geely spokesman told Reuters that talks were still ongoing successfully and the company was confident was agreeing a deal by the end of March. It then expects to close the deal before June.

Twitter - follow autocar.co.ukSee all the latest Volvo reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer
  • Citroën C3
    First Drive
    16 October 2017
    Is the third gen Citroën C3 ‘fresh and different’ enough to take on its supermini rivals? We spend six months with one to find out