Update | 8:43 a.m. The Ford Motor Company said Wednesday that it has begun talks to sell its Swedish brand, Volvo, to a group of bidders led by the Chinese automaker Geely, which has been trying for years to become a player in the global automotive industry.

A deal would complete Ford’s plans to sell its European brands in order to raise money and focus on its core operations — Ford, Lincoln and Mercury, The New York Times’s Nick Bunkley reports from Detroit.

Ford sold Jaguar and Land Rover to an Indian company, Tata Motors, in 2008, and Aston Martin to an investment group in 2007.

Ford said it has not made a final decision and it has no timetable to conclude the talks. Its chief financial officer, Lewis Booth, said in a statement that the two companies still had “much work” to complete.

“Ford’s objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties,” Mr. Booth said.

“Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core One Ford strategy,” he said. “Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand.”

Ford began trying to sell Volvo in December, after the market for new vehicles in the United States started a historic slump and the company decided to concentrate on Ford, Lincoln and Mercury as it tries to return to profitability by 2011. Ford, which was the only Detroit automaker to avoid bankruptcy this year, also owns 13 percent of the Japanese carmaker Mazda, down from the 33.4 percent share it held until 2008.

Ford releases third-quarter earnings next week.

With the purchase, Geely could join another Chinese company in selling cars in the United States. Sichuan Tengzhong, a manufacturer of heavy machinery, has an agreement with General Motors to buy Hummer, reportedly for $250 million. That pact is awaiting approval by Chinese regulators.