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 Yuanjing X1 Geely Yuanjing X1 The Geely Yuanjing X1 is a mini CUV produced by Chinese manufacturer Geely slotting below the Geely Yuanjing X3. As Crossovers and SUV are being more favored by Chinese people , most Chinese car manufacturers appeared their SUV projects on the market. Geely, relying its rich experience in car manufacturing, released 7 new crossover and SUV--Vision SUV, Vision X1, Vision X3, Boyue, Vision S1, Emgrand GS and Emgrand GSe. Vision X1 is a product which divided Geely's market into more meticulous parts. At the same time, X1 made a complete "Vision" Family coexist with the "Bo" family