Geely Automobile is a Chinese automaker and is the first independent and largest private automobile manufacturer in the People's Republic of China. The parent company is Geely Holding Group, which began manufacturing in 1986 in Taizhou in Zhejiang province. In 2009, Geely announced that it was close to an agreement to acquire Volvo Cars from Ford Motor Company. Geely signed a deal with Ford to acquire Volvo Cars for $1.8 billion on March 28, 2010 and is expected to close the deal by the third quarter of 2010.
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