Beijing - The Chinese carmaker Geely said Thursday that it plans to help Volvo Cars expand in Geely's home market, the world's largest car market, once it takes over the Swedish subsidiary of Ford Motor Co. Volvo's current management, its factories, distribution network and cooperation agreements with its current partners would be maintained, assured Yuan Xiaolin, a spokesman for Zhejiang Geely Holding Group Co.
But he also made it clear that a quick end to the negotiations with US-based Ford was not expected.
"It is difficult to say how much time will be needed to reach a final result," Yuan said while adding that there was still much to do in the negotiations.
"Ford and Geely have reached no final decision," he said.
On Wednesday, Ford said Geely was the "preferred bidder" for Volvo but said no final decisions had been made.
Yuan said he would not comment on speculation that Ford would announce Volvo's sale Monday when it presents its quarterly results, but he pointed out what sales opportunities would lie before Volvo in China, where car sales have risen an estimated 30 per cent this year despite the world economic downturn and flagging sales elsewhere in the world.
"We will use our profound knowledge of the Chinese market to improve Volvo's competitiveness in this important market," he said.
Ford, which bought Volvo Cars in 1999, said this year that it wants to sell the carmaker that has its main base in Sweden's west coast city of Gothenburg.
