Ford Motor Co. today struck a $1.8 billion deal today to sell it’s Volvo Cars unit to Zhejiang Geely Holding Group.
The deal is a tacit admission from the U.S. automaker that it bungled the brand since Ford paid nearly $6.5 billion for Volvo in 1999.
As Ford eats its Volvo losses, it’s probably going to taste like an egg roll with a lutfisk stuffed inside. But what happens to the brand?
Volvo had long held a reputation for engineering and safety. When the Volvo became just another Ford, Americans became a less enamored with the brand as an upscale import. Does a Chinese Volvo have more appeal?
Click here to read more on the deal from the Associated Press.