Volvo Cars investing HK$2.59 billion (334 million USD) in the holding company. Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year. On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Zhejiang Geely Holding Group, the parent of Chinese motor manufacturer Geely Automobile. On 23 December 2009, Ford confirmed the terms of the sale to Geely had been settled. A definitive agreement was signed on 28 March 2010, for $1.8 billion. The European Commission and China's Ministry of Commerce approved the deal on 6 and 29 July
China Formula Grand Prix adjustment to the ECU, the engine can rev up to 8,500 rpm producing 200 bhp. In 2008, reports of the AGF Sepang race appeared on Reuters's huge electronic TV screen at Times Square in New York City. Official Testing 1–2 May Guangdong International Circuit, Zhaoqing China Formula Grand Prix China Formula Grand Prix (CFGP) (), formerly known as Asian Geely Formula International Open Competition, is an open wheel formula racing class in China. The car, co-designed by Geely, China's biggest private-owned vehicle producer and racing cars production company Van Diemen, marks the first time that a Chinese domestic car producer