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
Emgrand later shown at the 2010 Beijing Auto Show. Emgrand unveiled three new concept cars at the 2012 Beijing Auto Show - the EX8, EX9 and GE. Emgrand unveiled the KC concept car at the 2013 Shanghai Auto Show, a Mid-size sedan previewing the Emgrand EC9 production model. Due to the discontinuation of the Emgrand brand one year after, the production model was sold under the Geely brand as the Geely Borui. Emgrand vehicles were principally assembled at the Geely plant in Ningbo, Zhejiang. Around 110,000 Emgrand vehicles were sold in China in 2011, a 50 per cent increase on 2010.