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Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars. On 28 October 2009, Ford named Geely the preferred buyer of Volvo Cars. [13] [14] 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 ...
Volvo Car AB, [2] trading as Volvo Cars (Swedish: Volvo personvagnar, styled VOLVO in the company's logo) is a Swedish multinational manufacturer of luxury vehicles. Volvo is headquartered in Torslanda, Gothenburg. The company manufactures SUVs, station wagons, and sedans.
In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion. ... Volvo would sell UD Trucks to Isuzu. [40]
Ford Motor (F) announced Monday that it has completed the sale of Volvo, its Swedish unit, to China's Zhejiang Geely Holding Group. Geely put up $1.3 billion cash for Volvo and issued a note worth ...
Volvo Cars on Wednesday announced it had abandoned its heavily promoted plan to sell only EVs by 2030, citing a need to be “pragmatic and flexible” amid changing market conditions.
Ford (NYSE:F) has been shopping its Volvo unit for months. Some Wall Street analysts thought the American car maker needed the money. Now that Ford's sales in the U.S. are improving, that may not ...
Ford purchased a 33.4% controlling-interest in Mazda in 1996 and acquired Volvo Cars in 1999 followed by Land Rover in May 2000. GM and Ford also established joint ventures with Chinese auto companies during this period.
Ford owned the Swedish automaker Volvo from 1999 to 2010. [8] ... Ford did sell a small range of vehicles in Japan; as of October 2010, the Ford Mustang, ...