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 CK Geely CK The Geely CK is a 4-door, 5-seater subcompact sedan produced by the Chinese manufacturer Geely from May 2005 to January 2016. The CK's Chinese name, "Ziyoujian", stands for "Freedom Ship" or "Free Cruiser". It was sold as the Geely Otaka on the Russian market in 2007-2008. Nowadays the car is sold as the Gleagle CK in the Chinese domestic market, part of Geely's recent proliferation of brands The CK holds the distinction of being the first Chinese automobile ever displayed at an American auto show, although it was only shown to the press and not the general public.