China's Geely Automotive has confirmed it wants to make a bid for Volvo.
Acquiring Volvo is appealing to Geely, a small, independent carmaker, as it would boost its profile and give it access to technology it needs to upgrade its cars.
Geely's parent company, Geely Holding Group, would make its bid in conjunction with a government-backed investor, CEO Gui Shengyue told the Reuters news agency.
"I believe if Volvo is for sale and Ford has a global announcement, then our parent company will participate," Gui said.
Gui added, however, that Geely is still waiting to find out if Ford will sell Volvo. He expects an answer within a month.
He also said that Geely would not be interested in taking a stake in Volvo,, preferring to buy the whole company.