Ford Agrees to Sell Volvo to Geely

Ford Motor Co. agreed with China's Zhejiang Geely Holding Group Co. on most terms for a sale of the U.S. automaker's Volvo Car Corp. unit in the second quarter.

A definitive agreement probably will be signed by March 31, with a sale completed by June 30, the companies said in statements today. No financial details were provided. Ford has made progress to resolve issues such as protecting intellectual property, a person familiar with the talks has said.