Ford will continue a working relationship between the brands to help formulate a smooth transition but will hold no stake in the new Chinese owned Volvo.
As part of the sale, Ford also has committed to provide engineering support, information technology, access to tooling for common components, and other selected services for a transition period to ensure a smooth separation process.
“Zhejiang Geely would like to pay tribute to Ford’s stewardship of the Volvo brand, and we look forward to continued cooperation as Volvo embarks on the next stage of its evolution with Geely,” said Li Shufu, chairman of Zhejiang Geely Holding Group Company Limited.
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