Premier Automotive Group preferred buyer of Volvo Cars by Ford. On 23 December 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. Geely signed a deal with Ford to acquire Volvo Cars for $1.8 billion on 28 March 2010 and closed the deal on 2 August 2010. <ref name="www.ford.com/about-ford/news-announcements"></ref> Premier Automotive Group The Premier Automotive Group (PAG) was an organizational division within the Ford Motor Company formed in 1999 to oversee the business operations of Ford's high-end automotive marques. The PAG was gradually dismantled from 2006 to 2010 with the divestiture of its constituent brands. The
Shanghai Maple Shanghai Maple Shanghai Maple Guorun Automobile Co., Ltd. (Shanghai Maple) is a Chinese automobile manufacturing company based in Fengjing, Shanghai, and a subsidiary of Zhejiang Geely Holding Group. Shanghai Maple was established in 2000. Geely acquired a strategic holding in Shanghai Maple in 2002, and in 2008 Shanghai Maple was fully consolidated into Geely as their budget brand. The first Shanghai Maple vehicle was produced in the summer of 2003, based on the 1990s-era Citroen ZX. The Maple Marindo was displayed at the 2005 Frankfurt Motor Show. The export of Shanghai Maple vehicles to Egypt began in 2007, where were