Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

Geely, Volvo Shelve Merger Plan, Agree to Deeper Collaboration
Published on: 2021-02-25
Share to
User Rating: / 0
PoorBest 

China’s Geely Automobile Holdings Ltd. and its Swedish affiliate Volvo Cars are putting off earlier plans to merge, wagering they will be more agile as standalone entities.
 

The manufacturers will preserve their separate corporate structures while cooperating more closely on electrification, software and autonomous-driving technology, according to a joint statement. While they’ll no longer pursue a combination as announced a year ago, new listings could be on the table.
 

“This is about maintaining top-line momentum,” Volvo Cars Chief Executive Officer Hakan Samuelsson said in an interview. “A merger isn’t always positive. You risk losing momentum because there’s too much internal focus.”
 

Geely and Volvo also will move their powertrain activities into a separate company, which will enhance focus on development of electric vehicles, Samuelsson said. Daimler AG joining the business would be positive, he said. The German carmaker counts Geely owner Li Shufu as its biggest shareholder and in November announced plans to jointly develop a gasoline engine that could be electrified later.
 

The moves are the latest examples of auto companies rapidly transforming their businesses as they eschew the internal combustion engine in favor of batteries. Daimler this month said it’ll spin off its trucks unit after more than a century of keeping it under the same roof as its car operations, while Volkswagen AG is mulling a possible listing of Porsche.
 

Volvo Cars may seek a listing of its own after deciding against a merger with Geely. It tabled plans for an initial public offering in 2018 after early feedback from investors indicated investors would have assigned the company a lower-than-expected valuation.
 

Geely Auto’s parent Zhejiang Geely Holding acquired Volvo from Ford Motor Co. for just $1.8 billion in 2010, when the U.S. carmaker was recovering from the global financial crisis.
 

Geely and Volvo will share vehicle platforms, software stacks and advanced connectivity. Volvo will also use its distribution and service network for a global rollout of the Lynk & Co brand that it jointly owns with Geely. The carmaker based in Gothenburg, Sweden, plans for fully electric vehicles to make up half of global sales by 2025.
 

吉利和沃尔沃宣布合并但架构独立,技术全面共享!

2月24日晚,吉利控股集团发布消息,沃尔沃汽车有限公司和吉利汽车控股有限公司达成最佳合并方案。在保持各自现有独立公司架构、实现战略目标的同时,继续拓展合作领域,在汽车新四化(电气化、智能化、网联化、共享化)方面深化合作,发挥协同效应,真正实现业务整合的最大价值,强化科技优势,持续引领行业变革。
 

根据合作共事内容,双方以股权合并形式将动力总成业务合并成立新公司,重点开发新一代双电机混合动力系统和高效内燃发动机。除了继续向双方供货外,还向第三方汽车公司提供产品和服务。该公司计划在年底之前投入运营。
 

在智能电动汽车领域,在目前共享SEA浩瀚、SPA2电动车架构基础上,双方已经启动下一代纯电专属模块化架构的联合开发,实现核心技术成果的共享和规模化优势。沃尔沃、吉利及快速增长的领克、极星品牌都将共享该架构。

双方还将在三电和智能网联方面实现技术共享,共用电池包和电驱系统,并通过联合采购降低成本。这将进一步增强吉利汽车新能源研发实力,为吉利汽车成为一家新四化汽车公司提供有力支持和保障。

Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.