Two Chinese automakers have shown an interest in buying Volvo from Ford.
Chinese automaker Guangzhou Automotive may be interested, but only after they finalize their current IPO stage in October; they plan to raise $1 billion by dual-listing in Hong Kong and Shanghai.
Guangzhou Automotive has joint ventures in China with both Toyota and Honda. They plan to invest $1 billion in a plant to build their own branded cars in 2010.
Chery Auto, one of China’s largest and most well-known carmakers, has also been named in the media as a possible buyer of the Volvo assets.
Tags: Volvo, Ford, Guangzhou Automotive, Chery, automotive, auto industry, automotive industry, China, Chinese auto industry, Chinese automotive industry
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