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
Canvas (car company) Canvas (car company) Canvas is a vehicle subscription company based in San Francisco, California for Ford and Lincoln cars. The company is a subsidiary of the Ford Motor Credit Company. Canvas is directed at consumers seeking alternatives to car ownership and leasing or daily car rental. For a subscription term of one month to a year or longer, the service provides the use of a car bundled with insurance and maintenance coverage. Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company. The company launched operations in May 2017