New Straits Times - - Business -

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.

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