According to National Business Daily, FoMoCo is in talks with Changan Automobile Group in a possible sale of its Volvo business. The newspaper said that Changan president Xu Liuping held discussions with Ford and Volvo during last month’s Guangzhou Motor Show.
No details were given on the talks; however, the newspaper did provide a quote from an anonymous Changan executives saying that there may be a chance for a deal, reports Automotive News.
Changan is one of China’s six largest auto groups. Ford announced earlier this month that it is reviewing the future of Volvo. It is seeking over $6 billion for the Swedish automaker.