Reports Volvo Geely Deal Signed
Updated 3:11 PM
China’s Xinhua news agency has reported that the Chinese car maker Geely has signed an agreement with Ford to buy the Swedish-based Volvo Cars unit.
Volvo, Geely, and Ford have called a press conference for 13:20 hrs UTC Sunday, and it has been widely expected that the signing of the deal would be announced at that time.
Volvo has confirmed the signing of the deal.