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 CK Geely had planned to begin selling the model in Puerto Rico in 2007 on the way to beginning sales in Mainland America the next year. However, since Geely failed the IIHS and NHTSA safety tests, plans are currently halted. The CK was also shown at the Frankfurt Motor Show in 2005 along with four other Geely models. At least 1,500 Geely CKs were shipped to Cuba in 2009, where they would replace some of the many Lada 2105s used by government officials and police. The car is thus becoming a common sight in Cuba. Displacing the old Russian-made Ladas, it