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China's Geely Automobile and its Swedish sister company Volvo Cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric ...
In February, Geely's Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped plans to merge. ... Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was ...
The Zeekr 001 (Chinese: 极氪 001; pinyin: Jíkè 001) a battery electric shooting brake marketed by Zeekr since 2021 as the first vehicle from the brand. Originally designed as a Lynk & Co vehicle, the model was instead released under Zeekr, at the time a new electric vehicle brand under Geely Holding.
Geely bought the Swedish brand 10 years ago for $1.8 billion - a deal that raised its international profile and sent shockwaves through the global auto trade. Fuelled by Volvo, China's Geely seeks ...
Geely transferred its 11.3% stake in Zeekr Intelligent Technology (Zeekr) to Geely Automobile Holdings (Geely Auto), increasing Geely Auto's ownership in Zeekr to 62.8%. [ 48 ] [ 49 ] Zeekr then acquired a 20% stake in Lynk & Co from Geely Auto for 3.6 billion yuan and an additional 30% from Volvo Cars for 5.4 billion yuan, securing a 51% ...
Volvo Group (6.8% stake) In 2017, Geely acquired an 8.2% stake of Volvo AB, which is also about 15% of votes. [132] [133] In January 2024, Geely announced to reduce its holdings in Volvo Group by 685 million USD. The stake has been lowered from 8.2% to 6.8%. Despite the reduction, Geely remains the second-largest shareholder in Volvo Group. [134]
They'll be built on Geely's electric platform and will be fitted with mapping and infotainment features developed by Baidu. Volvo owner Geely partners with China’s biggest search engine company ...
Li founded Geely in November 1986; it is now the second-largest private automobile manufacturer in China. [4] On 28 March 2010, Geely signed a deal worth US$1.8 billion to buy Swedish automobile manufacturer Volvo Cars from American automobile manufacturer Ford Motor Company. [5] It was the largest foreign purchase by a Chinese car manufacturer.