A new consortium is ready to bid for Volvo, according to reports.
Chinese car maker Geely has already been named as Ford's preferred bidder for Volvo, while another consortium - Crown, which is led by former Ford executives - has signalled its intent to make a bid.
The new bidder is called Konsortium Jakob AB. It was formed following an approach from the engineers' trade union at Volvo.
"We have told Ford that we are ready to submit a cash bid, that we have investors backing this," Peder Fast, Konsortium Jakob AB's CEO, told the Reuters news agency.
Fast said the consortium was now awaiting a response from Ford to see whether it was worth pursuing its interest with a bid.