| Investment For Geely |
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Despite the global recession, investment bank Goldman Sachs are investing $334 million into Chinese car maker Geely Automotive to fund expansion. This would mean Goldman Sachs own 15% of the company. Geely who previously made the cheapest cars in China and have the contract to make 8,000 London taxis in China, are now targeting the more affluent customer. The company are hoping to buy Volvo should Ford decide to sell. |