Ford discussing sale of Volvo unit
05-02-2009
The US car company, Ford Motors, is in preliminary talks to sell its Volvo unit to the mainland car manufacturer, Geely Automobile Holdings. The Michigan-based company lost a record US$14.6 billion last year because of the economic downturn, and is trying to avoid asking the American government for a bailout. But Ford is expected to get less than the US$6.4 billion it paid for Volvo in 1999.
