Ford Motor is closing in on a deal to sell its Swedish Volvo brand to China's Zhejiang Geely Holding Group.
Several people close to the negotiations said that while a final deal had yet to be settled, the two sides were close to agreement on some key aspects. Protection of intellectual property rights and the future of Volvo's existing plants in Sweden and Belgium are among issues still on the table.
Ford said yesterday that “both sides are working together in hopes of reaching an agreement”. Ford named Geely in October as its preferred bidder.
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