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 complete knock-down kits. Geely is also marketed in Lebanon, through the Rasamny Younes dealership network. The Cuban government has purchased a considerable number of Geely vehicles, and they are pressed into service as police patrol cars or tourist taxis throughout Havana. In 2010, Geely surpassed its 400,000-vehicle sales target goal for the first time selling 415,286 cars of its 680,000 units/year production capacity prompting the company to set its 2011 sales target at 480,000 cars, a 16% increase. Geely Auto Group reported annual sales of 1,24 million cars in 2017, an increase of 63% from the previous year. Due to