Under the financial crisis in 2008, Ford launched a slimming plan, and many brands were put on the shelves, including luxury car brands Jaguar and Land Rover, and later Volvo. Geely had the opportunity to acquire Jaguar and Land Rover, but Li Shufu gave it up voluntarily, so Jaguar and Land Rover were acquired by India's Tata Group.

Geely 20 10 acquired Volvo.