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…

Ford is reportedly negotiating the sale of Volvo to Shanghai Automotive Industry Corp. While no deal has been announced yet, and Ford is officially continuing to say Volvo is not for sale, Kirk Kerkorian, the billionaire investor who recently gained control of 6.5% of Ford shares, has come out in favor of a Volvo…