Beijing Automotive Industry Holdings (BAIC) has sent a team to Europe in an attempt to buy Volvo, according to reports in China
Sources close to the state-owned BAIC suggest that the firm is now in talks with Volvo, as well as Opel, but it plans to buy just one of them and not both.
Talks between GM and BAIC regarding Opel/Vauxhall are said to be ongoing, although no agreements have yet to be signed. Magna is currently GM's preferred bidder for Vauxhall/Opel, but talks are reported to have stalled.
Another Chinese manufacturer, Geely, has also been linked with Volvo, but these reports were rubbished by the Swedish manufacturer’s owner, Ford.
BAIC is the only Chinese manufacturer which doesn’t build its own brand of vehicles. It instead enters into joint ventures with other automakers, including those it has with Hyundai and Daimler.