Geely could secure a majority stake in electric car maker Fisker Automotive, sources have told China Daily.

Fisker is looking for a strategic investor or partner and is currently considering bids from two Chinese carmakers: Geely, which already owns Volvo, and state-owned Dongfeng Motor.

Sources told the newspaper that both offers, which Fisker received in the last three weeks, were worth between US$200m and $300m. A deal would give the suitors a majority stake in the US company, they said.

Geely acquired Volvo from Ford in 2010 and, according to the report, the Chinese have already sent a team of engineers to Fisker’s base in Anaheim, California.