File photo: Geely group, one of China's main independent automakers, is considering bidding for Ford Motor co.'s Volvo cars unit in alliance with an unnamed investment partner. [CFP] |
If the deal goes through, it will be the biggest overseas acquisition in China's automotive industry.
Geely is considering construction of a plant in China to domestically produce Volvo vehicles.
Geely's bid has received tentative government support.
Ministry of Commerce spokesman Yao Jian said earlier, referring to Geely, that overseas acquisition was a good way to obtain advanced technology and management expertise.
Comments