“Volvo is a great brand with an excellent product lineup. This agreement provides a solid foundation for Volvo to continue to build its business under Geely’s ownership,” said Alan Mulally, Ford’s president and CEO. “At the same time, the sale of Volvo will allow us to further sharpen our focus on building the Ford brand around the world and continue to deliver on our One Ford plan serving our customers with the very best cars and trucks in the world.”

Volvo has also added a strut tower brace under the hood and shortened the front and rear springs. Spring stiffness is also up 15 percent. Volvo is also including its Corner Traction Control system with torque vectoring. The system essentially brakes the car's inner driven wheel when cornering and at the same time transmits more power to the outside wheel. The system is supposed to reduce understeer.

Volvo C30 Interior

Ford To Sell Volvo To Chinese Company Geely

Ford Motor Company has announced on Sunday they have penned a deal with a Chinese company to sell its Volvo brand. The sale of the Swedish car maker and related assets to Zhejiang Geely Holding Group Company Limited should close by the third quarter of this year provided all goes smoothly. It is uncharted territory however as an automaker has yet to make a smooth and successful sale to a Chinese company as of yet.

Volvo XC60 T5 R-Design