Time to update the Automotive Family Tree. Ford has reached an agreement to sell Volvo to Geely for about $1.8 billion (with a B). The deal is expected to close in the third quarter of 2010. Ford will continue to supply powertrains, stamping and other parts to Volvo. Ford will get most in of the trade in cash.
One good thing out of the trade could be the return of the R performance, according to Doug Speck, Volvo’s North American CEO. Current R badge is an appearance package.
Source:Autoweek.com
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