Sunday, Aug 28, 2016
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Automotive

Ford mum on report that Chery wants Volvo

DEARBORN, Mich. Ford Motor Co. refused yesterday to comment on a Chinese business journal report that China s Chery Automobile Corp. is interested in buying Ford s Volvo unit.

Caijing Magazine quotes unidentified sources as saying Chery is looking for bank and private-equity financing for a possible bid for Volvo.

Mark Truby, a Ford spokesman said yesterday the automaker decided last year to concentrate on improving Volvo s business performance rather than selling it.

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