CarBuyersNoteBook

In spite of the fact Volvo is a Swedish company, the troubled auto maker may have to look to the Belgian government for financial assistance to help stay on its feet. Currently, Volvo runs a plant in the Flanders region of Belgium, and the Flemish Premier Kris Peeters has been talking with Volvo CEO Stephen Odell regarding secure loan guarantees for the carmaker to the tune of €300 million ($418 million).

The Belgian media is reporting that Volvo and the Flemish Premier are hoping a deal is worked out by June 7, just days before the region’s elections. The Flemish government’s top priority at this point seems to be securing a future for its auto workers and it will be examining a business plan from Volvo, as well as taking into account a possible sale of Volvo.