Volvo and Geely are preparing for a mergerFebruary 10, 2020
Automakers Volvo and Geely now fall under the same Chinese global Zheijnag Geely Holding Group, headquartered in Hangzhou, as related brands.
Swedish company Volvo Car and Chinese automaker Geely Automobile Holdings Limited have announced that they want to continue working together as one company. Both brands are currently working together to create a working group that can then begin work on a merger proposal. Subsequently, this proposal should go through various tips on car brands.
The merger will not only lead Geely and Volvo to a single company, but will also unite Lynk & Co and Polestar under one brand. The association should save from unnecessary costs, as well as provide new opportunities in the field of technological development.
The combined company will gain access to the capital market through Hong Kong, followed by a listing of the Stockholm stock exchange. It is not yet known when the proposal will be developed. Lee Shufu, chairman of the Geely Holding Group, said he was looking forward to exploring the issue with Volvo CEO Hakan Samuelsson.
- Third generation Haval H6 SUV prices announced
- BMW plans to double EV sales in 2021
- Mercedes-Benz has published details of the new electric crossover EQA
- Automotive brands that patent the most innovations named
- Former Volkswagen CEO Martin Winterkorn may go to jail for 10 years