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This acquisition facilitated Volvo's recovery and brought significant technological and managerial advancements to Geely. Under Geely ownership, Volvo Cars has developed a new line of 3- and 4-cylinder diesel and petrol engines to replace larger engines. It has also developed a new vehicle platform called the Scalable Product Architecture (SPA ...
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% ...
Geely Holding Group transferred its 11.3% stake in Zeekr Intelligent Technology (Zeekr) to Geely Automobile Holdings (Geely Auto). As a result, Geely Auto's shareholding in Zeekr increased to 62.8%. [ 23 ] [ 24 ] Zeekr subsequently announced its acquisition of a 20% stake in Lynk & Co from Geely Auto for 3.6 billion yuan, along with Volvo Cars ...
Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was considering options for Volvo, including an IPO and stock market listing.
Ford Motor (F) announced Monday that it has completed the sale of Volvo, its Swedish unit, to China's Zhejiang Geely Holding Group. Geely put up $1.3 billion cash for Volvo and issued a note worth ...
Volvo office in Hangzhou (with Geely headquarters in the background) 2016 Volvo XC90, the first Volvo vehicle developed fully under Geely ownership Volvo logo from 2015 to 2021. Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year. [34]
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.
Zhejiang Geely Holding Group Co, one of China's five biggest automakers and the owner of Sweden's Volvo Cars, is building the facility in the eastern port city of Ningbo where it already operates ...