
Geely and Volvo, considered one of the strongest unions in the automotive industry today, have decided to strengthen their ties instead of pushing through with their merger. With this, both brands will be able to preserve each of their existing corporate structures.
Having evaluated different options to realize value, we concluded jointly that a collaboration model between two standalone companies is the best way to secure continued growth and at the same time achieve technological synergies in many areas. We welcome the opportunity of further and deeper collaboration with Geely Auto.
This decision was openly welcomed by Geely and Volvo. In terms of strengthening the ties between both automakers, deeper collaborations are set to commence. The move is seen to motivate stakeholders and potential new investors to value their respective standalone strategies, performance, financial exposure, and returns.
The collaboration will include the development of Electric Vehicle (EV) hardware and software, car-sharing platforms, and autonomous driving technologies. Notably, Geely and Volvo are working together on next-generation modular platforms. The following are EV platforms dubbed as SEA and SPA2, which are to be utilized for future vehicles. Plus, the chassis shall also be reinforced on Lynk & Co and Polestar vehicles.
Geely Auto looks forward to partnering more closely with Volvo Cars, achieving significant synergies for our respective businesses. This will enable Geely Auto to accelerate its global expansion, to capitalize on our strengths in China and develop a new generation of world-class new energy vehicles and associated mobility services.
The union of both brands garnered such strong chapters, in fact, Geely sold a 1.32 million cars in 2020. Despite the decision not pushing through with the Volvo-Geely merger, investors still appear happy with this. Geely shares surged nearly 5% in Hong Kong after the announcement was made.
Latest News
-
Mitsubishi Philippines introduces the Strada GLS line / News
The Strada GLS line gets a selection of blacked-out elements and 18-inch black alloy wheels.
-
We won best video review and best host award at the 21st Henry Ford Awards / News
We got nominated, and won! Caco drove home with two awards from HFA this year.
-
Ford Philippines confirms the next-gen Ranger will arrive in Q3 2022 / News
The all-new Ford Ranger is almost upon us. Could it launch in the Philippines as soon as this September?
Popular Articles
-
Cheapest cars under P700,000 in the Philippines
May 20, 2020
-
First car or next car, the Ford EcoSport is a tough package to beat
Jun 18, 2021
-
Car Maintenance checklist and guide – here’s everything you need to know
Earl Lee · Jan 12, 2021
-
Most fuel efficient family cars in the Philippines
Bryan Aaron Rivera · Nov 27, 2020
-
2021 Geely Okavango — Everything you need to know
Joey Deriquito · Nov 19, 2020
-
Family cars in the Philippines with the biggest trunks
Nov 14, 2018
-
Head to head: Toyota Rush vs. Suzuki XL7
Joey Deriquito · Oct 28, 2020
-
Why oil changes are important for your car
Earl Lee · Nov 10, 2020
-
2021 Kia Stonic — What you need to know about it
Joey Deriquito · Oct 16, 2020
-
Top 7 tips for buying a used car in the Philippines
Joey Deriquito · Nov 26, 2020