Some rumors just never seem to die, and it looks as though Volvo ’s impending sale falls directly under that heading. The latest report speculates that China’s Chery auto group is interested in placing a bid for Ford ’s Volvo brand.
The Swedish automaker has been at the center of several recent sale rumors, with possible suitors including Renault, Dongfeng Motor Group and SAIC.
According to the Automotive News report, Chery hasn’t yet asked for permission to acquire the Volvo brand from its home government of Anhui, but has reportedly reached out to banks and private equity firms about raising capital for such a purchase. The latest estimates have Volvo valued at $4.4 billion.
As always, Ford continues to deny it has any plans to sell Volvo. Amid the sale rumors, Volvo is still working to move the brand further up scale.
