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 Yuanjing Geely Yuanjing The Geely Yuanjing sedan is a compact sedan produced by Chinese automaker Geely under the Yuanjing or Vision product series. It is the first commercial car produced by Geely Automobiles. The car was first introduced in 2006. It carries the first CVVT engine designed and made in China. The car was named Geely Tiger, Biaowang and Luhu, but it later renamed "Vision" (远景,Yuǎn jǐng). Geely Yuanjing went on sale on May 18, 2007 after being adjusted by Magna Steyr. Geely Haijing (Englon Haijing) was based on SMA Haijing, which designed similar to first generation Geely Yuanjing. It carries