Ford Motor Selling Volvo to Geely for $1.8 Billion
Ford Motor Selling Volvo
Ford motors has taken a very decisive step for one of their fantastic Swedish brand Volvo, the agreement has been passed between the company and the Chinese carmaker Geely for about $1.8 in a multinational sale expected to close in the third quarter of this year. This Sunday the announcement for the pending agreement was made ad it has been notified that Ford will supply powertrains, stamping and other parts to Geely after the sale of Volvo. This deal can thus prove to be a big hit for Ford because most of the money they’ll receive as cash and they can use this in some other core brands of the company.
The Volvo brand was indeed one of the best brands of Ford Company and the latest model announced in this brand is the 2011 S60 sedan, which was revealed in the Geneva auto show. According to the Ford’s CEO Alan Mulally “This agreement provides a solid foundation for Volvo to continue to build its business under Geely’s ownership” and it can be expected that this brand will get some new and more advance enhancements in the models in the upcoming future.