Ford agrees to sell Volvo to Geely for $1.8 bn

摘要

Ford has entered into a definitive agreement to sell its Volvo subsidiary to Chinese carmaker Geely for $1.8 billion.rnThe deal is due to be completed towards the end of this year.rnThe agreement will mean Ford relinquishes all ownership of the OEM, although it will continue to cooperate with Volvo in powertrain development, stampings and other vehicle components.