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 LC facelifted version of the car known as the Geely Yuanjing X1. As of 22 December 2010, popular Chinese e-commerce retailer Taobao Mall sells the LC online although buyers must put down a 288 yuan deposit and visit a local dealership for a test drive prior to purchase. The LCs on offer are not delivered to your door and may differ from those available through more-traditional retail channels. First day online sales totalled near 500. The LC's styling has been recognized for its exceptional exterior, which manufacturer Geely says is "bionic" and resembles a panda but that some criticize for resembling