Ford China official denies rumors to sell Volvo
Shanghai, August 13 (Gasgoo.com) A senior Ford China official said Ford will not try to revive sales at the expanse of Volvo Car Corp, a Chinese newspaper reports.
"Ford has no plan to sell Volvo, nor other Ford subsidiary brands whatever,” Xu Guozhen, vice president for Ford (China) Co told a Sichuan based newspaper at an industry event recently.
He said Ford and Volvo will strengthen their cooperation in more specific areas including sharing the platform and technologies as part of its restructuring plan intended to reverse sliding sales by shifting production to better-selling and more fuel-efficient small cars.
Among others, China's Chery Auto, Guangzhou Automotive Industry Corp, SAIC and Dongfeng Motors are speculated to be possible bidders for Ford's Volvo car business.
Ford bought the Volvo car business for $6.45 billion in 1999.
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