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China's Geely to bid for Volvo

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China's Geely to bid for Volvo

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Private Chinese carmaker Geely Automotive has said its parent company will be a bidder for Volvo as and when Ford goes ahead and sells it.

Ford will reportedly make a decision on a sale later this month at an estimated price of around 1.4 billion euros. At the same time, luxury sports car maker Koenigsegg which is buying Saab from General Motors, announced that Beijing Automotive Industry Holdings will take a stake.