Volvo being sold to SAIC?

According to a Swedish business publication Dagens Industri (via Autonews.com), they are reporting that Ford Motor is in negotiations with a Chinese Company. It’s also believed that a Russian investor is interested in acquiring Volvo.

Media reports suggest talks are with SAIC (Shanghai Automotive Industry Corp.).

Volvo cars said it will cut 2,000 jobs, in an effort to trim cost. This includes 1,400 white-collar staff and 600 blue-collar workers.

I’ve owned a Volvo in the past, I’d hate to see them go away like MG.

Source: autonews.com