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Geely and Volvo Car's joint Lynk & Co brand said on Wednesday it plans to expand its sales network beyond China and Europe to the Gulf region in the fourth quarter of this year. Lynk & Co, which ...
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 ...
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]
Because Zhejiang Geely Holding already owns Volvo Cars, a stake in truckmaker AB Volvo (VOLVb.ST), and 49.9 percent of Malaysian automaker Proton, German executives fear any wide-ranging ...
The joint venture project was announced in November 2022 and codenamed Horse project by Renault and Rubik project by Geely. [1] [2] The Renault Group and Geely namesake brands would be the first to receive the powertrains and they would later be supplied to Dacia, Volvo, Lynk & Co and Proton cars, [3] as well as Nissan and Mitsubishi Motors ones. [4]
Shares in Volvo Cars tumbled as much as 13% Friday to hit a record low after its biggest shareholder Geely sold part of its stake at a discount to the market value.