# Volvo Cars and Geely Holding create Aurobay joint venture

Volvo Cars and Geely Holding have agreed to create a joint venture named Aurobay for their powertrain operations, transferring Volvo's engine plants in Sweden and China to the new company.

- Type: Acquisition
- Announced: 2021-07-08
- Status: announced
- Products: powertrain solutions, combustion engines, transmissions, hybrid solutions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Aurobay](https://endata.com/companies/48003.md)
- [Volvo Cars](https://endata.com/companies/21173.md) (partner)
- [Geely Holding](https://endata.com/companies/25757.md) (partner)
- [Aurobay](https://endata.com/companies/48003.md) (target)

## Sources

- [volvocars.com](https://www.volvocars.com/intl/media/press-releases/63CE0CD9B210A94E/), 2021-07-08: "The new company will be a global supplier of complete powertrain solutions including next generation combustion engines, transmissions and hybrid solutions."
- [electrive.com](https://www.electrive.com/2021/07/08/volvo-geely-found-powertrain-joint-venture/), 2021-07-08: "The creation of the stand-alone joint venture and the transfer of assets allows Volvo Cars to focus fully on the development of its new range of all-electric premium cars in coming years."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.