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 Latin NCAP crash test on protecting adult occupants in front seats. In 2010, the Geely LC scored 45.3 points of a possible 51 in the China-NCAP crash tests, making it China's first locally researched and developed mini car to be awarded a 5-star rating, and the safest Chinese hatchback as of 2011. In 2011, the Geely Emgrand EC7 earned a 4-star rating in a Euro NCAP crash test. In 2015 the Geely Borui received 5 stars in C-NCAP crash testing. The Geely GE has received criticism for looking like a Rolls-Royce and the LC, a Citroën C1 or a Toyota