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Reports from China indicate that Chery is trying to raise the capital necessary (about $4.4 billion) to purchase Volvo, despite industry experts doubting the possibility of such a takeover. The purchase would be a major coup for the Chinese auto industry, since Volvo would represent the first major Western brand to be purchased by the country. Ford continues to deny that the Swedish automaker is for sale despite continuous rumors to the contrary. So what's really going on? Jalopnik snap analysis after the jump. More »
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