Aug 4 2010

Ford Sells Volvo To Chinese Company

Ford Motor Company unloaded money losing Volvo to Zhejiang Geely Automotive of Hong Kong.

Volvo lost $653 MILLION in 2009.  I find that rather startling news. 

Zhejiang Geely paid Ford $1.3 BILLION in cash and issued a $200 MILLION note to buy Volvo.

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