Volvo and Geely Plan to Merge Into a Global Group

Sweden Volvo Cars and Chinese Geely Automobile intend to merge into a global group.

Such changes are aimed at “accelerating financial and technological interaction between the two conglomerates,” says the company’s official statement.

Volvo and Geely Plan to Merge Into a Global Group photo 2

If a joint venture is established, its shares will be traded on the Hong Kong stock exchange. A stock listing in Stockholm is also possible in the future.

Volvo Cars and Geely will set up a joint working group to discuss possible integration. However, despite the strengthening of ties, the manufacturers intend to maintain the identity of each of the brands; this applies to Volvo and Geely, as well as Lynk&Co and Polestar.

Since 2010, Geely has been the owner of Volvo Cars. The Chinese group also owns Geely Auto, Lynk & Co, Lotus Cars, Polestar, London Electric Vehicle Company (LEVC) and others. By the end of 2019, the company's sales decreased by 9%, to 1.36 million vehicles.

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