Oct. 29 (Bloomberg) -- Konsortium Jakob AB, the Swedish investor that wants to buy Volvo Cars from Ford Motor Co., aims to make a bid by end of this week, the head of the group said.

“We’re in serious discussions with our investors about making an offer,” Jakob Chief Executive Officer Peder Fast said in a phone interview today from Gothenburg, Sweden, where Volvo is based. Fast, a Volvo engineer, declined to identify the partners or say how much the group is prepared to offer.

Ford said yesterday it has narrowed talks on the sale of Volvo to one bidder, China’s Zhejiang Geely Holding Group Co. Ford hasn’t made a final decision and has “no specific timeline” to conclude the discussions, the Dearborn, Michigan- based automaker said.

Geely is prepared to pay about $2 billion for Volvo, less than a third of Ford’s purchase price a decade ago, people familiar with the talks have said.

“My understanding is this isn’t just about the amount,” Fast said, adding that his group has an “open dialogue” with Ford. “There are many factors to consider, such as long-term industrial cooperation and intangible rights.”

John Gardiner, a spokesman for Ford Europe, declined to comment on a potential bid from Jakob. Ford “will be engaging in more detailed and focused negotiations with our preferred bidder, Geely,” he said.

Jakob, founded this summer by Magnus Sundemo, who heads the engineers’ union at Volvo, entered the bidding for Volvo late as it sought to get investors on board. Jakob’s ambition for Volvo “is to have the best possibly owner that protects Volvo’s core values -- environment and safety -- and who has a strong connection with the employees and the unions” in both Sweden and Belgium, Fast said.

Volvo’s biggest plant is located in Ghent, Belgium, where it employs about 3,800 workers. The carmaker has about 20,000 employees worldwide, including 15,000 in Sweden.

”We think that, with our long and strong relations with Ford, we have a good opportunity here,” Fast said.

To contact the reporter on this story: Ola Kinnander in Stockholm at okinnander@bloomberg.net

Last Updated: October 29, 2009 11:01 EDT