Ford ( F) has held preliminary discussions with several parties interested in buying Volvo Cars, its money-losing Swedish unit, reports say.

Among the Volvo bidders are China's Geely Automobile and a Europe-based consortium of investors, according to two individuals close to Geely and a person close to Ford, the Wall Street Journal reports.

The size of the bids and when they were submitted was unclear. The person close to Ford said there were "three or more" bidders for Volvo in total, the Journal reports.

Ford confirmed Wednesday it has held talks with a number of bidders interested in Volvo.

"Ford has contact with a number of parties that are interested in Volvo's future," spokesman John Gardiner told the Associated Press. "We are having preliminary discussions determining the interest."

Gardiner said he was pleased with the "quality" of the potential buyers but declined to disclose who they were.

"These are ongoing talks that could lead to a sale," he said.

Bloomberg, citing people familiar with the discussions, reports Ford may get $1 billion to $2 billion for Volvo Cars, less than a third of what it paid 10 years ago.

Discussions are furthest along with Geely, Bloomberg reports. Geely approached Ford more than a year ago but before the U.S. automaker was prepared to sell, the people said. Ford also has approached China's Chery Automobile and Chongqing Changan Automobile.

Ford, unlike General Motors ( GM) and Chrysler, hasn't requested U.S. government aid to help it stay alive. But the automaker is still suffering losses as demand for cars has weakened substantially.