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
China Formula Grand Prix China Formula Grand Prix China Formula Grand Prix (CFGP) (), formerly known as Asian Geely Formula International Open Competition, is an open wheel formula racing class in China. The car, co-designed by Geely, China's biggest private-owned vehicle producer and racing cars production company Van Diemen, marks the first time that a Chinese domestic car producer is involved in the racing car design. CFGP uses a 1.8-litre 4G18 engine; the car weighs 490 kg and has a maximum speed of 240 km/h. The engine can produce 140 bhp at 6,300 rpm and 172 N/m of torque at 4,100 rpm. After an