Ford may have selected Chinese automaker Geely as its bidder of choice for the up-for-sale Volvo unit, but that’s not stopping a consortium led by a former Ford executive from making a bid. As we reported earlier, Crown, as the consortium is called, has expressed interest, but we’ve since learned that the group’s bid could exceed Geely’s offer.
“There is no point in bidding low. You are not going to win anything that way,” Sweden’s Dagens Industri quoted an unnammed Crown consortium source as saying.
Crown is led by Michael Dingman, a former director of Ford , but the consortium has apparently gained backing from a number of Swedish investors, which could make it more appealing both in Dearborn and in Gothenburg.
