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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.

Chelsea boss Mourinho takes delivery of F-Type Coupé

CHELSEA Football Club manager José Mourinho has been presented with a brand new Jaguar F-Type R Coupé – by two of the men responsible for building it. Two members of Jaguar's Castle Bromwich manufacturing team, Gary Johnson and Steven Gaut, were invited to present the car to the charismatic Blues boss. Steven Gaut was given the opportunity in recognition of his exemplary contribution at Castle Bromwich, and his tireless support of local charities for whom he has raised over £60,000 in recent years.

Ford begins building 1.0 Ecoboost, a microsized 3cyl

Ford chief exec Alan Mulally was in Essex today to launch the first 1.0-litre Ecoboost engine, which was developed by powertrain engineers at Dunton and Dagenham. The new 999cc triple will be built at Cologne in a new ￡110m production line – and will first be seen in the new Ford Focus in 2012. How powerful is Ford's new 1.0 Ecoboost?