Has Volvo Been Acquired by Geely?

[MilesDella]

Volvo has been acquired by Geely. On August 2, 2010, Geely Holding Group officially completed the acquisition of all shares of Volvo Car Corporation from Ford Motor Company. Geely Group paid Ford in US dollars, with the remaining funds to be settled in the second half of the year. Here is some extended information about Volvo: 1. Volvo Car Corporation is the largest automobile manufacturer in Northern Europe and the largest industrial group in Sweden, as well as one of the top 20 automobile companies in the world. It was founded in 1924 by Gustaf Larson and Assar Gabrielsson. 2. Volvo cars enjoy a high reputation in Northern Europe for their superior quality and performance, especially in terms of safety systems, where Volvo Car Corporation has its unique advantages. The Highway Loss Data Institute in the United States once rated the ten safest cars, and Volvo topped the list.