Geely has said that it has no plans to buy the Volvo car brand from Ford.
“We don’t have plans to buy Volvo as some media have reported,” a Geely spokesman told Reuters.
Rumours persist in China that a number of Chinese OEMs are interested in up-for-sale Volvo, including Changan (currently has a JV with Ford), Geely and SAIC.
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.