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Li founded Geely in November 1986; it is now the second-largest private automobile manufacturer in China. [4] On 28 March 2010, Geely signed a deal worth US$1.8 billion to buy Swedish automobile manufacturer Volvo Cars from American automobile manufacturer Ford Motor Company. [5] It was the largest foreign purchase by a Chinese car manufacturer.
Volvo Cars Chinese headquarter in Hangzhou, next to Geely's headquarter. Following continuing losses in that year, Ford Motor Company offered Volvo Cars for sale in December 2008. [42] On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was ZGH.
Volvo office in Hangzhou (with Geely headquarters in the background) 2016 Volvo XC90, the first Volvo vehicle developed fully under Geely ownership Volvo logo from 2015 to 2021 Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year. [ 34 ]
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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]
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Polestar's showroom in Oslo, Norway. In October 2017, Volvo Cars and Geely Holding announced that Polestar would become a standalone brand focusing on electric cars. [26] The brand introduced the Polestar 1 on 17 October 2017, a 2+2 coupé inspired by Volvo's Concept Coupé introduced in 2013, which includes influences from the Volvo P1800.
Made-in-China EVs are sold in more than 100 countries, and the U.S. is the only market where they “have not yet really begun a big assault,” ZoZo Go CEO Michael Dunne, whose advisory firm ...
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