Volvo suitors from China

Two Chinese automakers have shown an interest in buying Volvo from Ford.

Chinese automaker Guangzhou Automotive may be interested, but only after they finalize their current IPO stage in October;  they plan to raise $1 billion by dual-listing in Hong Kong and Shanghai.

Guangzhou Automotive has joint ventures in China with both Toyota and Honda. They plan to invest $1 billion in a plant to build their own branded cars in 2010.

Chery Auto, one of China's largest and most well-known carmakers, has also been named in the media as a possible buyer of the Volvo assets.

Tags: Volvo, Ford, Guangzhou Automotive, Chery, automotive, auto industry, automotive industry, China, Chinese auto industry, Chinese automotive industry

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