Reports from China say that Volvo has handed over the XC90 platform to its Chinese owner, Geely. National Business Daily says that Geely will use the SUV platform to develop a vehicle that will sit in a new high-end sub-brand for the Chinese market. The hand over agreement was signed in March.

Makes good sense, since Volvo is already working on the next generation XC90 that will hit the market in 2014. And although the XC90 is far from a fresh face on the road (it has been around since 2003), Geely will be inheriting safe, sturdy and proven underpinnings that meet current standards. The P2 platform on which the XC90 is based on also underpins cars like the S80 and Ford Taurus.

Geely launched its first ever SUV at the recent Beijing show. Called the GLEagle GX7, the seven-seater is powered by a 4G18 1.8 litre and a 4G20 2.0 litre engine. Click here to view a live gallery from the show.