Geely Volvo deal moves closer
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| File photo: Geely group, one of China's main independent automakers, is considering bidding for Ford Motor co.'s Volvo cars unit in alliance with an unnamed investment partner. [CFP] |
![File photo: Geely group, one of china's main independent automakers, is considering bidding for Ford Motor co.'s Volvo cars unit in alliance with an unnamed investment partner. [CFP]](http://images.china.cn/attachement/jpg/site1007/20091224/001fd04cea510c9d0bbf39.jpg "File photo: Geely group, one of china's main independent automakers, is considering bidding for Ford Motor co.'s Volvo cars unit in alliance with an unnamed investment partner. [CFP]")
If the deal goes through, it will be the biggest overseas acquisition in China's automotive industry.
Geely is considering construction of a plant in China to domestically produce Volvo vehicles.
Geely's bid has received tentative government support.
Ministry of Commerce spokesman Yao Jian said earlier, referring to Geely, that overseas acquisition was a good way to obtain advanced technology and management expertise.
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