Ford agrees to sell Volvo Cars to Geely: report

Stockholm: US scar maker Ford has agreed to sell Volvo cars to China's Zhejiang Geely and will present the deal at 1000 GMT, Swedish television reported on Wednesday.

The fine print of the deal can take some more time to finalise, Swedish television said. It said a local union representative had confirmed that an agreement had been reached between Ford and Geely.

Two sources with direct knowledge of the matter told Reuters earlier in the day that Ford Motor Co and Geely would report progress in talks to sell Ford's Volvo unit to the Chinese automaker.

Volvo had no comment on the news.