Press

Volvo said the joint venture would be 50/50 owned with Zhejiang Geely Holdings, which also controls Chinese automaker Geely Auto and new brand LYNK & CO. Volvo, Geely Auto and LYNK & CO, a brand established last year and positioned between Volvo and Geely in price, would share vehicle architecture and engine technologies via cross licensing arrangements managed by the new venture. "We will unlock significant benefits across our portfolio by sharing both technologies and next-generation vehicle architectures," Zhejiang Geely Chairman Li Shufu said in statement. "I am confident these synergies can be achieved while preserving the separate identities and strategic autonomy of our different automotive brands." Reuters