The Volvo brand is excited to announce that they have entered into a partnership with Geely Holding to create two new entities and work together towards new automotive technology. One of the ventures will be called GV Automobile Technology and the other venture is called LYNK & Co. Want to know more about what will come from this partnership? Keep reading for additional information.
The ownership of GV Automobile Technology will be shared 50/50 between the Volvo brand and Geely Holdings. The team has tapped into many of their pre-existing leadership base to guide this new venture.
The ownership of LYNK & Co. will be split three ways – 30 percent by the Volvo brand, 50 percent by Geely Auto and 20 percent by Geely Holding. They will create a new board for this organization. These companies already share technology like the Compact Modular Architecture also known as CMA. This is being used already in some Volvo vehicles and on some vehicles to be released soon by LYNK & Co.
"These joint ventures will create significant value for our automotive brands. We aim to deliver global economies of scale by facilitating closer cooperation between our brands on shared vehicle architectures, powertrain development and electrification, while offering synergies that will enable LYNK & CO to achieve its full potential," said Li Shufu, Chairman of Geely Holding.
Interested in learning more? Stop by our Volvo dealership in Northfield, IL and we can show you all the technological features you'll love in new Volvo cars. We have a plethora of new and pre-owned Volvo vehicles for you to check out, including the stunning 2018 Volvo S60. Our sales representatives are available to help you find the vehicle of your dreams, so what are you waiting for? Stop by and visit us today!