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 BL Geely BL The Geely BL is a coupe automobile from Chinese manufacturer, Geely Automobile. The "BL" name stands for "Beauty Leopard". The car was designed with help from Daewoo and was introduced to production in January, 2003. It is best known outside China for being the first vehicle with an in-car karaoke machine. The car's design seems to copy mostly the Toyota Celica, with the front taking inspiration from the Honda Integra and the rear from the Toyota Supra. The Geely BL is considered a sports car in China. It has a top speed of 180 km/h (approx 111 mph).