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
Geely Yuanjing S1 Geely Yuanjing S1 The Geely Yuanjing S1 is a compact CUV produced by Geely under the Emgrand product line, positioning the Yuanjing S1 just above the Geely Yuanjing X3 subcompact crossover. The Geely Yuanjing S1 is essentially a heavily facelifted Emgrand EC7-RV hatchback. Originally the launch vehicle for Emgrand (), the medium to high-end luxury brand of Geely that was launched in July 2009, the product was repositioned after the facelift. After the discontinuation of the "Emgrand" brand, the Emgrand name became a series of product under the Geely brand, and the Emgrand logo became Geely's new logo. The predecessing