Volvo Cars, Geely Auto cancel merger plans
February 26, 2021- Share:
Sweden's Volvo has scrapped plans to merge with China's Geely Auto after the two companies instead opted to collaborate on projects. Volvo and Geely, both controlled by the Hong Kong-listed Geely holding company, will work together on software development, powertrains and EV technology. They had announced plans to merge early last year, but the deal was postponed as the parent company had planned to list in Shanghai.
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