Ford Motor Co and China's Geely are set to report progress in talks to sell Ford's Volvo unit to the Chinese automaker, according to Reuters. Ford and Geely have not disclosed a price for Volvo, but people with knowledge of the deal have put it closer to $2 billion than the $6.45 billion Ford paid in 1999. 

Beijing Automotive Industry Holding Corp (BAIC), China's fifth-largest automaker, will invest 33 billion yuan ($4.8 billion) in vehicle R&D over three years, after paying $200 million for GM's Saab technology, including the rights to three overall vehicle platforms and two engine technologies.