Geely, BAIC target foreign brands

Li Shufu, the billionaire founder of China's biggest private automaker, is leading a push among the country's carmakers for overseas brands to move beyond the world's fastest-growing car market.

Li's Geely Holdings Group Co said this week it might work with Chinese state investment companies to buy Ford Motor Co's Volvo unit.

Beijing Automotive Industry Holdings Co (BAIC) joined a bid for General Motors Co's Saab on Wednesday and Sichuan Tengzhong Heavy Industrial Machinery Co is trying to buy GM's Hummer.