Geely chairman Li Shufu and Ford's CFO Lewis Booth

Geely Buys Volvo

The Chinese car maker Geely has signed an agreement with Ford to buy the Swedish-based Volvo Cars unit.

The 1.8 billion dollar deal was announced at a joint press conference in Gothenburg Sunday afternoon. Taking part were Ford’s CFO Lewis Booth, Volvo’s CEO Stephen Odell, and the chairman and founder of Geely, Li Shufu.

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