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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.

New GM chairman Whitacre to be featured in TV ad campaign

General Motors Co. will launch a broad post-bankruptcy advertising campaign next week with an introductory TV spot featuring new Chairman Ed Whitacre, sources familiar with the plan said on Wednesday. The ad is expected to last 60 seconds and was created by the ad agency McCann-Erickson Worldwide.

Google driverless car will let you speed

Driverless cars are so clever, aren’t they? The potential to whisk us along in total comfort and relaxation while a silicon chip takes care of the driving may sound like bliss to some. However, despite recent news that self-driving cars will be legally allowed on our roads as early as next year, they might not be as clean cut and infallible as you might think.