New entity hopes to be a leader in the ongoing transformation of the automotive industry.
Geely Automobile Holdings and Volvo Car are considering a merger, which would accelerate financial and technological synergies between the two companies, while preserving the distinct identity of each of the affected brands: Volvo, Geely, Lynk & Co, and Polestar.
The combined company would have access to the global capital market through Hong Kong, with the goal of listing in Stockholm.
“A combination of the two companies would result in a strong global group,” said Li Shufu, Chairman of Geely Holding Group. “We look forward to working with Håkan Samuelsson, president and CEO of Volvo Cars, to further investigate this opportunity with the goal to strengthen the synergies within the Group while maintaining the competitive advantage and the integrity of each individual brand.”