Even if Ford repeatedly said it is willing to sell Volvo, the US-based manufacturer is afraid that multiple systems developed by the Swedish carmaker could be used by Geely on future models, in case the deal indeed goes through. Obviously Geely could become a rival and compete, using Volvo's advanced safety systems, against Ford's own models.
Citing the same sources, the aforementioned publication notes that Ford is still analyzing the proposed terms of the deal. It appears the Chinese carmaker initially planned to allow Ford retain 25 percent of Volvo, so Geely would only purchase 75 percent for a smaller amount of money.
Ford has rejected such a proposal so Geely is now planning to acquire 100 percent of the Swedish unit.
Chief Executive Officer Alan Mulally said on Friday that talks on Volvo are progressing but hasn't mentioned how many suitors are actually interested in buying the Swedish company. Earlier this year, Ford said it was discussing with multiple investors but only one of them, Geely, confirmed the interest.
Details are still unconfirmed, as Geely hasn't commented on the reports. Nevertheless, more details are very likely to follow in a few weeks as several sources familiar with the matter hinted the two sides are aiming to close the deal by December.
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