Geely is set to submit a bid for Volvo Cars to owner Ford later this month according to a report in the Wall Street Journal Asia citing two people close to the matter.
The offer is expected to be made in the period between next week and the third week of March, according to the report.
There are additionally at least three other possible buyers for Volvo, of which one is a Chinese company as well, according to the sources reported in the WSJ.
Ford and Geely have already discussed Volvo over several weeks, the sources said.
If the bid is successful, Geely plans to maintain Volvo as an international brand, rather than turning it into a brand more focused on China, according to the source. The Chinese company may however move part of Volvo’s production to China, in order to take advantage of China’s cheaper labour costs, the source also said.