On July 20, Geely announced the formation of a joint venture company with Volvo to operate the Lynk & Co business on a global basis. The scope of the joint venture is to engage in the production and sale of vehicles under the Lynk & Co brand, and the provision of after-sales services relating thereto, through the operational entities acquired or to be acquired by the joint venture.
Li Shu Fu, Chairman of Geely Automobile and Geely Holding said: “We will unlock significant benefits across our portfolio by sharing both technologies and next-generation vehicle architectures. I am confident these synergies can be achieved while preserving the separate identities and strategies autonomy of our different automotive brands.”
Gui Sheng Yue, Chief Executive Officer of Geely Automobile said: “The JV Company should facilitate closer co-operation between Volvo and the Group on shared vehicle technologies and component-sourcing, thus generating industrial synergies and better economies of scale. This should bode well for the future growth of the Group.”