Geely Auto and Volvo to merge combustion engine businesses

Geely Auto and Volvo Car Group plan to consolidate their combustion engine businesses into an independent supplier that will produce 2 million engines annually. The merger is still being planned and requires approvals.

“The merger is the latest in a series of business integrations after Geely spent USD1.8 billion to acquire Volvo in 2010 and forms part of Volvo's shift to all-electric vehicles.”yicaiglobal.com

• 1 source
• yicaiglobal.comGeely Auto, Volvo to Merge Fossil-Fuel Engine BusinessesZhang YushuoOct 8, 2019

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