Despite reports that China ’s Geely Automotive is the favorite to purchase Volvo from Ford, there are updates coming out that a US-led consortium has entered the race. According to a report in the Financial Times that contradicts the initial reports, the so-called Crown consortium has already secured funding from US private equity groups.
Moreover, funding has also come from Swedish investors, in a move to ensure the company stays in its native country. The Financial Times also says that the consortium is fronted by former Ford director Michael Dingman and former Ford and Chrysler executive Shamel Rushwin.
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