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
Emgrand later shown at the 2010 Beijing Auto Show. Emgrand unveiled three new concept cars at the 2012 Beijing Auto Show - the EX8, EX9 and GE. Emgrand unveiled the KC concept car at the 2013 Shanghai Auto Show, a Mid-size sedan previewing the Emgrand EC9 production model. Due to the discontinuation of the Emgrand brand one year after, the production model was sold under the Geely brand as the Geely Borui. Emgrand vehicles were principally assembled at the Geely plant in Ningbo, Zhejiang. Around 110,000 Emgrand vehicles were sold in China in 2011, a 50 per cent increase on 2010.