Chinese OEMs are said to be interested in buying Volvo Cars from Ford. The Volvo brand is upscale, much respected and offers global presence, as well as some class-leading technology.

It could offer an ambitious Chinese firm a massive 'leg-up' in terms of developing an international strategy in the long-term.

However, Chinese carmakers are also preoccupied with other concerns such as the slowing Chinese market, local overcapacity and lower profitability.

Rumours persist in China that a number of Chinese OEMs are interested in Volvo, including Changan (currently has a JV with Ford), Geely and SAIC.

Sinocast reported that Ford is intending to nail down expressions of interest in the next two weeks and that Chinese firms are expected to be in the list. The report cited a source described as 'in the know'.