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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 for $1.8 billion on 28 March 2010 and closed the deal on 2 August 2010. [6]
Volvo Cars has been separate from its former parent conglomerate and producer of heavy trucks, buses, and construction equipment (among others) AB Volvo since 1999 when AB Volvo sold its automobile division Volvo Cars to Ford Motor Company for US$6.47 billion. [3]
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 ...
1999: Ford acquires Volvo car division from Volvo. Bill Ford becomes chairman of the board, replacing Jacques Nasser. A smaller sporty Mercury Cougar is reintroduced with front-wheel drive. Jaguar Racing Formula One team is formed, with Jackie Stewart at the helm. Ford splits its full-sized pick-ups into two distinct models (the first to do so ...
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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 ...
Volvo excavator on construction site in Tomaszów Mazowiecki, Poland. In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion. The division was placed within Ford's Premier Automotive Group alongside Jaguar, Land Rover and Aston Martin.
Intended to be phased in as the replacement for the Lincoln Town Car, the MKS was the Lincoln counterpart of the Ford Taurus. Built on a Volvo-derived chassis, the MKS was the first full-size Lincoln with front-wheel drive (or optional all-wheel drive); shared with the Ford Taurus SHO, a 3.5L twin-turbocharged V6 was an option.