is in talks to sell its Volvo car business to its China partner
Changan Automobile Group
National Business Daily
reported on Tuesday, according to
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,
Ford and Changan spokesmen in China couldn't be reached for comment on Tuesday,
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.