As Ford named Geely as the preferred bidder for Volvo in October, it is now beging to look like a deal.
Ford will continue supplying components following a sale and it still has some patent concerns with Geely, but it seems likely these will be overcome.
China Daily said Geely is prepared to pay about $2 billion for Volvo, less than a third of what Ford paid a decade ago.
Geely Group, China’s biggest private automaker, boosted 10 month revenue 26%. Vehicle sales rose 45% to more than 200,000.