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
Geely Yuanjing 6-speed tiptronic transmission or 5-speed automatic transmission which is the same as Geely Yuanjing. The first Generation of Geely Yuanjing went on sale on May 18, 2007 after being adjusted by Magna Steyr. Originally named the Geely FC, the compact sedan was later renamed to Geely Yuanjing (Vision) sedan under the Yuanjing (Vision) product series as opposed to the Geely Emgrand (EC7) sedan of the Geely Emgrand product series (Previously a separate sub-brand of Geely). It set its opposite as Hyundai Elantra, which was being sold better than most models in China. Geely Yuanjing carries the most advanced engine produced