U.S. Consortium To Make Bid For Volvo This Week

In today's episode of the Ford/Volvo saga, the U.S. consortium known as Crown has announced plans to submit a bid for Volvo this week that will rival that of Chinese automaker (and current preferred bidder) Geely. Crown's bid will be in the $2 billion to $2.5 billion range -- somewhat less than Geely's rumored $3 billion offer. However, Crown may have an advantage at the bargaining table in that it's more likely to abide by international intellectual property law -- one of Ford's major concerns. And as we've previously noted, Crown has matched Geely's offer to invest $3 billion in Volvo after the sale to revitalize the brand. No word on whether any production shifts might take place under Crown's leadership; expect more news as the story develops this week. [AutoNews, sub reqd]

Permalink:U.S. Consortium To Make Bid For Volvo This Week