Beijing Auto has entered the bidding race for Ford's Sweden-based Volvo Cars.

The race for a Volvo takeover speeds up as a new bidder enters the stage. Beijing Automotive Industry Holding Co may bid for Ford’s troubled Sweden-based car manufacturer, several international news bureaus wrote Thursday.

Executives from Beijing Auto are expected to visit Volvo in Göteborg, on the Swedish southwest coast, this week, according to a person familiar with the discussions, Bloomberg writes. The Chinese representatives are to tour the company’s factories and view its books.

Last month Beijing Auto made the news when they failed to take over General Motor’s Opel.

Three or four groups are said to be in the race for Volvo, lead by Geely Holding Group, China’s biggest private automaker. The Chinese corporations are said to be looking for more advanced technology to construct more profitable motor vehicle.

“For Chinese automakers, buying a brand may be easy but it’s more difficult to develop it afterwards,” said Zhang Xin, analyst at Guotai Junan Securities in Beijing to Bloomberg. “Beijing Auto and other Chinese automakers don’t have the capability to manage it or to do research and development on products.”

The process was supposed to wind down in June but clued-up people said it may take longer.

Ford, currently the only major U.S. carmaker not in bankruptcy, is selling its European luxury brand in a move to raise cash and not having to ask for a government bailout. The company are said to be seeking about $2 billion for Volvo, less then a third of the prize they paid for the company a decade ago. Ford acquired Volvo in 1999 for $6.45 billion from Volvo AB.