With all of the failed attempts General Motors has suffered in trying to sell off its unprofitable brands, it has become difficult to believe that China's Geely Automobile would be successful in buying Volvo Cars from Ford Motor Co.  It certainly has been a slow process but earlier today that process moved one step further as Dagens Industri, a Swedish business newspaper, reported that Chinese financial institutions and regional government bodies have put up the funds that Geely needs to acquire Volvo.  The rumored price is somewhere around $2.1 billion. 

According to a Reuters report, the newspaper quoted a source stating that the money is "in the bank account" of parent company Zhejaing Geely Holding as the company prepares to close the transaction. 

Geely has said it will double Volvo's global production with a new assembly plant at Beijing.