Volvo Cars, Geely Holding to form two new companies to share technology, drive synergies
Two companies signed MOU for cooperation agreement last month
Volvo Cars and its Chinese parent Zhejiang Geely Holding (Geely Holding) have finalized a strategic cooperation agreement wherein two new joint-venture (JV) companies will be formed to share existing and future technology and provide economies of scale, the Swedish carmaker said in a press release today (4 August). “We aim to deliver global economies of scale by facilitating closer cooperation between our brands on shared vehicle architectures, powertrain development and electrification, while offering synergies that will enable LYNK & CO to achieve its full potential,” said Li Shufu, chairman of Geely Holding.
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