Ford sells its Volvo brand to Geely of China

Ford has finally decided to get rid of its Volvo brand. The American company got into an agreement to sell Volvo and related assets to Zhejiang Geely Holding Group of China for Rs 815 crore. The sale is officially expected to be closed by the third quarter of 2010. Much of this time will be consumed in getting permissions from governments in countries where the Swedish brand has presence. Ford is