Beijing Auto Plotting to Buy Volvo
Published June 11, 2009
Beijing Auto are determined to get hold of foreign automakers one way or another via a buyout of foreign owned automakers.
In late May their chance to buy Opel, GMs European subsidery, failed at the last minute. Beijing Auto Works (BAW) are expected to send executives to tour the Ford owned Sweedish automaker and review their accounts prior to making a bid.
Geely are the current forefront winners to take over Volvo according to our sources, but a late bid by Beijing Auto Works may up the bidding war. Geely first visited Volvo in April 2008, and placed their bid early on.