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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 onSunday 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.

Chevrolet Volt for European sale in November 2011

Chevrolet will start selling the Volt range-extender hybrid from European Chevy outlets in November 2011 and plans right-hand drive from UK launch in spring 2012. It means that GM will offer Europeans the choice of the Volt or the Opel/Vauxhall Ampera – the Euro spec version of the same car. Although prices are not yet set for either model, CAR understands the Chevy is likely to be positioned slightly cheaper than the Vauxhall.

Saab Museum reopens & Saab back in production – sort of

Saabs are being built and the Saab Museum re-opens. The Saab Museum has reopened after Saab’s bankruptcy problems and a Trollhatten dealer is to ‘build’ the last 100 Saabs. We’re still waiting for a decision from Saab’s administrators about which – if any – of the bids they’ve received for what’s left of Saab are solid enough to pursue.