Ford Talks Volvo Sale With China's Changan

Ford is in talks to sell its Volvo car business to its China partner Changan Automobile Group, a report says.
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Ford

(F) - Get Report

is in talks to sell its Volvo car business to its China partner

Changan Automobile Group

, the

National Business Daily

reported on Tuesday, according to

Reuters

.

Changan President Xu Liuping held discussions with Ford and Volvo during last month's auto show in the Chinese city of Guangzhou, the newspaper said.

The report didn't provide details of the talks, but quoted an unidentified Changan executive as saying there was a chance for a deal. Changan is one of China's six biggest auto groups,

Reuters

said.

Ford and Changan spokesmen in China couldn't be reached for comment on Tuesday,

Reuters

said. The U.S. automaker operates a car venture with Changan's listed arm, Chongqing Changan Automobile, which makes mid-sized Focus sedans.

Last week, Ford said it would re-evaluate its ownership of Volvo. A possible sale of Volvo is on the table, Ford said, considering the worldwide economic instability and declines in auto sales.

This article was written by a staff member of TheStreet.com.