Geely and Volvo scrap merger plans for closer partnership

The partners have called off the merger but still hope to benefit by pooling resources on software, EV development and procurement. By Megan Lampinen

It’s no secret that automakers are struggling to go it alone in today’s industry, given the investment demands around CASE (connected, autonomous, shared and electric) mobility. The challenge has prompted numerous partnerships, joint ventures, acquisitions and mergers. For Geely and Volvo, the big question was whether their decade-long collaborative relationship would be taken to the next level in the form of a full merger. Zhejiang Geely Holding Group Company Limited currently holds about 40.94% interest in Geely Automobile and 97.8% in Volvo Cars.

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