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 S1 Geely Yuanjing S1 The Geely Yuanjing S1 is a compact CUV produced by Geely under the Emgrand product line, positioning the Yuanjing S1 just above the Geely Yuanjing X3 subcompact crossover. The Geely Yuanjing S1 is essentially a heavily facelifted Emgrand EC7-RV hatchback. Originally the launch vehicle for Emgrand (), the medium to high-end luxury brand of Geely that was launched in July 2009, the product was repositioned after the facelift. After the discontinuation of the "Emgrand" brand, the Emgrand name became a series of product under the Geely brand, and the Emgrand logo became Geely's new logo. The predecessing