Chinese automaker Geely Group Holding is Ford Motor’s preferred bidder to purchase Volvo Car Corp., which has executive offices in Bergen County. Ford said it will start more detailed negotiations with Geely, but something tells me I can grow a beard till this is all finished and a real contract is signed. Till then, Volvo maintains its North American headquarters in Rockleigh.

Volvo, Ford and now.. Geely?

Ford Chief Financial Officer Lewis Booth, excerpt from a statement:

“Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand.”

Ford and privately owned Geely did not disclose a possible sale price for Volvo but media reports have put it closer to $2 billion than the $6.45 billion Ford paid for Volvo in 1999.

Geely Automobile is a Chinese automaker and is the first independent automobile manufacturer in the People’s Republic of China. The parent company is Geely Holding Group. Geely started in 1986 as a manufacturer of refrigerators, then moved to manufacturing decoration materials in 1989, and by 1992, motorcycle parts. In 1994, Geely began manufacturing motorcycles. By 1996, Geely had produced over 200,000 motorcycles and scooters. Automobile production started in 1998. I don’t wanna be mean but this does not seem the same planet as good old Swedish super-safe super-solid family cars! But that’s how things work today…