Just the other day, we were wondering what happened to FoMoCo’s plans to sell Volvo. Last we heard, Chinese automaker Beijing Automotive Industry Holding Co. was talking to Ford about buying the company”s Volvo stake.
Well, the Wall Street Journal is now reporting that FoMoCo is slowing down the bidding process for its Volvo brand as its waits for General Motors to sell Opel. Why wait for GM to sell Opel? Apparently Ford is hoping it can get more money for Volvo than the current offers on the table and is looking to invite losing Opel bidders to Sweden to take a look at Volvo.
Ford had not comment on the report when questioned by Reuters.
The money-losing Volvo unit was put up for sale since December.
– By: Stephen Calogera