Zhejiang Geely Holding Group appeared set to sign a binding deal Sunday to buy Sweden's Volvo Cars from Ford Motor Co., in a coup for the ambitious Chinese automaker, and also a challenge.
Geely earlier had said it expected to reach a final agreement on the deal by the end of March. Chinese Vice President Xi Jinping is visiting Sweden, and a signing ceremony could be timed to coincide with his visit.
Xi was due to visit Goteborg, Sweden, where Volvo is headquartered, on Sunday, the official Xinhua News Agency reported. No more specific details of Xi's schedule were available.
Ford, which purchased the Swedish car maker in 1999 for $6.45 million, …
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