Chinese carmaker Geely Automobile said it’s involved in the bid to acquire Sweden-based Volvo Cars from Ford.

Geely Automobile, China’s biggest privately owned carmaker, has confirmed that its parent Geely Holding Group is mixed up in the bid for Ford Motor’s Volvo Cars unit, Bloomberg wrote on Tuesday.

The Chinese company wants full ownership of Volvo rather than just a stake, Geely Auto Chief Executive Officer Gui Shengyue told the news bureau, adding that Ford is likely to make an announcement within a month.

The acquisition would be an important step for Geely to boost sales overseas

“Geely has done a good job in selling bigger cars to boost profit margins,” said Vivien Chan, an analysts with SinoPac Securities Asia Ltd. in Hong Kong to Bloomberg. “It also benefited from consumers’ rising purchases of smaller cars in response to government stimulus policies.”

Geely Automobile more than doubled first-half profit.