Geely aims for initial Volvo deal in Feb -source

Newswire

BEIJING, Jan 26 (Reuters) - The parent of China's Geely Automobile aims to sign a preliminary agreement to buy Ford's Volvo unit next month, with an aim to making the brand break even by next year, a company source said on Tuesday. As part of its plan to turn around loss-making Volvo, Zhejiang-based Geely plans to produce 300,000 Volvo brand cars per year in its Beijing factory, according to the source who declined to be named due to the sensitivity of the issue. The source said the deal ...

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