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 leading compact modular architecture. The company has also invested in establishing colleges across China including the Beijing Geely University, Zhejiang Automotive Technical School, Hunan Geely Automotive Technical. The company has students enrolled within its schools with the goal of developing Chinese automotive industry talents. In 2013, 16 trainees from this program started their careers in Geely Group. A small Geely sedan, the CK, performed badly in an informal crash test conducted by a Russian magazine in 2007. As a result, Geely reviewed its expansion plans. A 2009 1.3-liter Geely CK 1 model without airbags earned a zero-star rating in a