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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced on Sunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Driven: Hyundai i40

CDN recently spent a day sampling Hyundai’s new i40 Tourer, which has just been launched in Europe. For the launch, Hyundai invited us to Waddesdon Manor, the home of the Rothschild banking family and a venue that has been used for previous Louis Vuitton events. It has recently added a new art gallery with fabulous views across rolling countryside, and contains work by Anish Kapoor, Michael Craig-Martin and bronzes by Angus Fairhurst.

CDOTY awards presented at Auto Design Night Geneva

Car Design News, in partnership with Interior Motives magazine, hosted the fourth annual Auto Design Night event at La Sip nightclub in Geneva last night. With more than 300 attendees reading like a who's who in automotive design, designers were able to reconnect with old friends and make new acquaintances in a comfortable and inviting environment.  One of the highlights of the evening's festivities included the presentation of the fourth annual Car Design News Car Design of the Year Awards (CDOTY), recognizing the most publicly acclaimed concept and production car designs of 2008. Car Design News Editor Eric Gallina presented the award to BMW Group Design in the Concept Car category and General Motors Design for the Production Design category.