GEELY, VOLVO TIE-UP TO BOOST LYNK & CO BRAND
HANGZHOU (China): Zhejiang Geely Holding Group (Geely Holding) has formed two new joint ventures (JVs) with Volvo Cars to cooperate on automotive technologies, purchasing and the future development of the Lynk & Co brand.
Lynk & Co will develop and sell new high-end cars mainly targeted at the North American and European markets.
Malaysia would also likely be a market for the new manufacturer, said Geely Auto Group chief executive officer An Cong Hui.
“Lynk & Co is global brand, so it’s a global development. Surely it will find its way to Malaysia,” said An at the signing ceremony, here, yesterday.
Lynk & Co is ready to release the company’s model 01 sport utility vehicle in the fourth quarter and the new model 03 sedan in the first quarter of next year.
All three brands, namely Geely, Volvo and Lynk & Co, will maintain their independent brand identities and target different segments of the markets.
Geely Holding and Volvo, its wholly-owned Swedish subsidiary, yesterday signed a wideranging agreement to formalise the JVs, covering strategic priorities, management teams and targeted synergies for the collaboration projects.
“These joint ventures will create significant value for our automotive brands.
“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 chairman Li Shufu. Arman Ahmad
Lynk & Co is ready to release its model 01 sport utility vehicle in the fourth quarter.