<p>Filed under: <a href="http://www.autoblog.com/category/etc/" rel="tag">Etc.</a>, <a href="http://www.autoblog.com/category/ford/" rel="tag">Ford</a>, <a href="http://www.autoblog.com/category/volvo/" rel="tag">Volvo</a>, <a href="http://www.autoblog.com/category/geely/" rel="tag">Geely</a></p><a href="http://www.autoblog.com/photos/2011-volvo-s60/#2691296"><img hspace="0" border="1" vspace="4" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2010/08/17-2011-volvo-s60-630op.jpg" /></a>
<div style="text-align: center;"><em><strong><small>2011 Volvo S60 - Click above for high-res image gallery</small></strong></em></div>
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After months of protracted negotiations, <a href="http://www.autoblog.com/make/ford/">Ford</a> has officially sold <a href="http://www.autoblog.com/make/volvo/">Volvo</a> to Zhejiang Geely Holding Group Company Limited - aka <a href="http://www.autoblog.com/tag/Geely/">Geely</a> - for $1.8 billion.<br />
<br />
The Chinese automaker originally included a $200 million note and the balance in cash, and today, it paid the remaining $1.3 billion to wrap up the sale, although the final sale price won't be released until later this year and could put more cash in the pockets of FoMoCo.<br />
<br />
Under the terms of the sale, Ford will continue to supply Volvo with everything from powertrains to stamping systems and other vehicle components for differing periods of time. Additionally, Ford and Geely have come to an agreement on intellectual property usage, with Volvo allowed to grant sub-licenses to specific systems to third parties, including Geely.<br />
<br />
<a href="http://www.autoblog.com/tag/StefanJacoby/">Stefan Jacoby</a> - formerly of <a href="http://www.autoblog.com/make/volkswagen/">Volkswagen</a> - will take the helm as the new President and Chief Executive of Volvo Cars, and under the new ownership, the automaker will continue to keep it headquarters and manufacturing centers in Sweden and Belgium.<br />
<br />
Full details in the dueling press releases <a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/#continued">after the jump</a>.<br />
<br />
<br />
<div class="postgallery"><p><strong>Gallery: <a href="http://www.autoblog.com/photos/2011-volvo-s60">2011 Volvo S60</a></strong></p><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/03-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/05-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/04-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/02-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/01-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a></div><br />
[Source: Ford, Geely]<p><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/" rel="bookmark">Continue reading <em>BREAKING: Ford officially sells Volvo to Geely for $1.8b</em></a></p><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/">BREAKING: Ford officially sells Volvo to Geely for $1.8b</a> originally appeared on <a href="http://www.autoblog.com">Autoblog</a> on Mon, 02 Aug 2010 07:46:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.autoblog.com/forward/19577155/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/#comments" title="View reader comments on this entry">Comments</a>
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<div style="text-align: center;"><em><strong><small>2011 Volvo S60 - Click above for high-res image gallery</small></strong></em></div>
<br />
After months of protracted negotiations, <a href="http://www.autoblog.com/make/ford/">Ford</a> has officially sold <a href="http://www.autoblog.com/make/volvo/">Volvo</a> to Zhejiang Geely Holding Group Company Limited - aka <a href="http://www.autoblog.com/tag/Geely/">Geely</a> - for $1.8 billion.<br />
<br />
The Chinese automaker originally included a $200 million note and the balance in cash, and today, it paid the remaining $1.3 billion to wrap up the sale, although the final sale price won't be released until later this year and could put more cash in the pockets of FoMoCo.<br />
<br />
Under the terms of the sale, Ford will continue to supply Volvo with everything from powertrains to stamping systems and other vehicle components for differing periods of time. Additionally, Ford and Geely have come to an agreement on intellectual property usage, with Volvo allowed to grant sub-licenses to specific systems to third parties, including Geely.<br />
<br />
<a href="http://www.autoblog.com/tag/StefanJacoby/">Stefan Jacoby</a> - formerly of <a href="http://www.autoblog.com/make/volkswagen/">Volkswagen</a> - will take the helm as the new President and Chief Executive of Volvo Cars, and under the new ownership, the automaker will continue to keep it headquarters and manufacturing centers in Sweden and Belgium.<br />
<br />
Full details in the dueling press releases <a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/#continued">after the jump</a>.<br />
<br />
<br />
<div class="postgallery"><p><strong>Gallery: <a href="http://www.autoblog.com/photos/2011-volvo-s60">2011 Volvo S60</a></strong></p><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/03-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/05-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/04-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/02-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a><a href="http://www.autoblog.com/photos/2011-volvo-s60/"><img src="http://www.blogcdn.com/www.autoblog.com/media/2010/02/01-2011-volvo-s60_thumbnail.jpg" alt="" title="" /></a></div><br />
[Source: Ford, Geely]<p><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/" rel="bookmark">Continue reading <em>BREAKING: Ford officially sells Volvo to Geely for $1.8b</em></a></p><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/">BREAKING: Ford officially sells Volvo to Geely for $1.8b</a> originally appeared on <a href="http://www.autoblog.com">Autoblog</a> on Mon, 02 Aug 2010 07:46:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.autoblog.com/forward/19577155/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.autoblog.com/2010/08/02/ford-officially-sells-volvo-to-geely-for-1-8b/#comments" title="View reader comments on this entry">Comments</a>
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