China's rapidly expanding Chery auto group is considering a bid to buy Swedish-based Volvo from Ford Motor, state media said on Monday.

The Caijing business magazine quoted sources as saying that Chery has not yet reached any agreement or applied for permission from the government of Anhui, the company's home province.

Some auto makers are threatening to fight surcharges steelmakers are trying to impose on agreed supply contracts in a bid to curb the impact of spiking steel prices and bolster their weak finances, The Wall Street Journal said, citing people familiar with the matter.
 
The auto makers are looking to fight the additional charges in court, saying that financial terms of a contract ...