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There is also a Volvo Baltic Race and Volvo Pacific Race, and Volvo likes to encourage its image by sponsoring golf tournaments all over the world including major championship events called the Volvo Masters and Volvo China Open. Volvo sponsored the Volvo Ocean Race, the world's leading round-the-world yacht race for the first time in 2001–02 ...
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.
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Zeekr raised $440 million in an IPO on the New York Stock Exchange earlier this year, a rare U.S. listing for a Chinese company. ... Volvo scrapped its plans to only sell electric cars by 2030.
Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Volvo until 1999, when it was sold to the Ford Motor Company. Since 2010 Volvo Cars has been owned by the automotive company Geely Holding Group. Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Gothenburg, Sweden. [6]
In March 2008, Ford sold Jaguar and Land Rover to Indian carmaker Tata Motors. In 2010, Ford sold the Swedish brand Volvo Cars, the last of the PAG brands, to the parent of Chinese carmaker Geely for $1.8 billion. [6]
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.