Volvo will not merge with the Chinese Geely
Volvo and its Chinese owner Geely renounce to merge, preferring to multiply joint projects for electrification or autonomous driving.geelyry has been the owner of Volvo since 2010. M ...
23/09/2022
Volvo and its Chinese owner Geely renounce to merge, preferring to multiply common projects for electrification or autonomous driving.
Geely has been the owner of Volvo since 2010.But the two brands are two distinct entities.A year ago, they expressed their wish to merge, to form only a global group.A project that the two companies have decided to abandon.
Via a press release, they said they were going to remain two separate companies.But the two companies intend to accelerate technical and financial collaborations.Hakan Samuelsson, Patron of Volvo, writes: "After having evaluated different options, we have jointly concluded that a model of collaboration between two independent companies is the best way to guarantee continuous growth and to achieve technological synergies at the same time inmany areas ".
Volvo and Geely will notably share technical elements for electric vehicles, including new SEA and SPA2 platforms.They will also collaborate for the autonomous vehicle and will create a joint venture charged with motor engines and gearboxes for hybrid. Lynk&Co, nouvelle marque de Geely, va s'appuyer sur le réseau Volvo pour se développer à l'international.