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 Boyue much attention in the Chinese automobile market. The Proton X70 is a right hand drive version of the Geely Boyue with minor cosmetic differences. On 24 May 2017, PROTON Holdings parent company DRB-HICOM announced plans to sell a 49.9% stake in Proton to Zhejiang Geely Automobile Holdings. Alongside the sale of stake, it was announced that Proton's first SUV would be based of the Geely Boyue. In April 2018, Proton opened up an online poll to the public to vote on the name. Participants could choose between: PX7, X7, X70 and X700 or voice in their own input. Latter that