Geely A subsidiary of the group, Geely Auto, had its IPO on the Stock Exchange of Hong Kong in 2004. The company had a booth at the 2005 Frankfurt Motor Show, and a 2006 showing at the Detroit auto show. Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, it was named as the preferred buyer of Volvo by the American automaker. A deal was reached in late March and completed in early August, 2010. In 2010, total sales of over 415,000 units gave the company a near 2% market share. Sales were lower
Volkswagen Group China launched and the Chinese name was announced. Octavia, the first Shanghai Volkswagen Škoda model, hit the market on 6 June 2007. Following Octavia's success, Shanghai Volkswagen launched Fabia in 2008 and Superb in 2009. Established in February 1991, FAW-Volkswagen Automotive Company (FAW-VW) is a large-scale carmaker jointly funded by China FAW Group subsidiary First Automobile Works, Volkswagen AG, Audi AG and Volkswagen (China) Investment Co., Ltd. It was the first modern car industrial base constructed with an economy of scale in China. With its development over the years, FAW-Volkswagen is producing thousands of vehicles on a daily basis. FAW-Volkswagen manufactures