VOLVO AND GEELY TO SHARE TECH
VOLVO Cars and Geely Holding, the Chinese car group, on Friday completed the formation of two new entities to share existing and future technology and provide the economies of scale that will allow them to more rapidly develop next generation of electrified vehicle technology.
The agreements formalise the strategic priorities, management teams and targeted synergies for the collaboration within the group.
Volvo Cars and Geely already share technology, most notably the Compact Modular Architecture platform, which is being used by Volvo Cars for its soon to be announced smaller range of 40 series cars and by Lynk and Company.
“We look forward to expanding our co-operation with Lynk and Company. It will be beneficial for both companies”, said president and Chief Executive of Volvo Cars Håkan Samuelsson. The formation of the company is expected to be finalised in September 2017 and is subject to relevant corporate and authority approvals.