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 Borui GE Geely Borui GE The Geely Borui GE is a fastback car produced by Geely Automobile, providing two hybrid driving mode of mild hybrid and plug in hybrid. The model made its appearance in March 2018, and went on sale on May 28 in the same year. In late 2017 Geely unveiled a flagship hybrid fastback car 'K Model' (later renamed "Geely Borui GT") based on the Geely Borui. It had renamed "Geely Borui GE" later. On March 10, 2018, the Chinese automaker Geely organized an activity of design interpretation and static shot of the new Borui GE in Suzhou, Jiangsu.