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 Geely LC The Geely LC, sold in its home market as the Geely Panda or the Gleagle Panda, is a city car produced by the Chinese manufacturer Geely from November 2008 to 2016. In 2010 the LC scored 45.3 in C-NCAP crash tests, making it China's first locally researched and developed compact car to be awarded a 5-star rating, and it is subsequently the safest Chinese hatchback as of 2011. The LC was able to achieve the above despite a development process that relied more on computer simulations than actual crash tests. In 2017, The Panda was replaced by a