BUSINESS

Ford In Talks To Sell Volvo To Geely, Chinese Car Company

03/07/2009 05:12 am ET | Updated May 25, 2011

Ford Motor Co., seeking to raise cash to avoid a federal bailout, is in preliminary talks to sell its Volvo Car unit to Geely Automobile Holdings Ltd., according to three people familiar with the discussions.

Ford will likely get less than the $6.4 billion it paid for Volvo in 1999, said one of the people, who declined to be identified because the talks are ongoing. Ford has also approached Chery Automobile Co. and Chongqing Changan Automobile Co., the people said.

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