Ford Motor Company sports car maker Aston Martin in 1989, later selling it on March 12, 2007, although retaining an 8% stake. Ford purchased Volvo Cars of Sweden in 1999, selling it to Zhejiang Geely Holding Group in 2010. In November 2008, it reduced its 33.4% controlling interest in Mazda of Japan to a 13.4% non-controlling interest. On November 18, 2010, Ford reduced their stake further to just 3%, citing the reduction of ownership would allow greater flexibility to pursue growth in emerging markets. Ford and Mazda remain strategic partners through exchanges of technological information and joint ventures, including an American joint venture
Geely () (, ), a subsidiary of Geely, is listed on the Hong Kong Stock Exchange. On 13 February 2017, it became a constituent of the Hang Seng Index. Geely () means "auspicious" or "lucky" in Mandarin Chinese. Founding Geely in 1986 as a refrigerator maker with money borrowed from family, Li Shufu transformed the company into a success selling inexpensive products to Chinese consumers. After the purchase of a failing, state-run firm, Geely manufactured motorcycles in the mid-1990s. Small van production began in 1998, and a year later, it received state approval to manufacture automobiles. Car production began in 2002.