Ford says that it is very close to an agreement to sell Volvo to China's Geely. The deal still awaits Chinese government approval, and more importantly final financing on the part of Geely."
"The deal, which Ford said it expects to sign
in the first quarter and close in the second quarter of 2010, would be
the largest acquisition of an auto brand by a Chinese company.
Geely Automobile Holdings Ltd is China's largest private automaker.
Its charismatic founder, Li Shu Fu, sometimes likened to Henry Ford,
has shown global ambitions for Geely, which means "lucky" in Chinese," according to Reuters.
China is now the world's largest auto market surpassing the United States and is excepted to end the year with 13 million units (cars) sold.