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Source: Beijing auto firm eyeing Ford's Volvo

(Agencies)
Updated: 2009-06-12 15:38

DETROIT -- A person briefed on the matter says a Chinese automaker is considering buying Ford Motor Co.'s Volvo unit.

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The person says Beijing Automotive Industry Holding Co. is taking a look at Volvo, and is expected to meet with executives at Volvo's Gothenburg, Sweden, headquarters. The person spoke on condition of anonymity because the discussions are private.

Beijing Automotive would be one of three or four companies that have expressed interested in Volvo.

Dearborn, Michigan-based Ford said last year that it wants to sell the unit so that it can focus its efforts on three core brands: Ford, Lincoln and Mercury.

Ford has already sold its Land Rover, Aston Martin and Jaguar units as it works to restructure during the worst auto sales slump in more than two decades.