Volvo Cars to share engine technology and more with parent Geely

Record ID: 905322

  • Title: Volvo Cars to share engine technology and more with parent Geely
  • Date: 4th August 2017
  • Summary: NINGBO CITY, ZHEJIANG PROVINCE, CHINA (AUGUST 4, 2017) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** MANAGEMENT WALKING IN FOR SIGNING CEREMONY AND TAKING SEATS GEELY REPRESENTATIVE SIGNING VOLVO REPRESENTATIVE SIGNING REPRESENTATIVES FROM GEELY AND VOLVO SHAKING HANDS AND POSING FOR PHOTOS / GEELY PRESIDENT AN CONGHUI (FAR LEFT), GEELY CHAIRMAN LI SHUFU (M) AND VOLVO CARS PRESIDENT HAKAN SAMUELSSON CLAPPING CAMERAMAN MANAGEMENT TAKING SEATS AN SIGNING SAMUELSSON SIGNING GEELY CFO AND VICE PRESIDENT DANIEL LI SIGNING LI, AN AND SAMUELSSON STANDING UP AND SHAKING HANDS CAMERAMAN FILMING AN WALKING ONTO STAGE, BOWING AND WALKING TO PODIUM (SOUNDBITE) (Mandarin) GEELY PRESIDENT AN CONGHUI SAYING: "The signing of the two agreements is of great significance. It is the first time for a Chinese auto brand to establish a comprehensive cooperation in technology sharing and cooperative purchasing. It is a vivid case to show that the Chinese auto industry has deeply integrated into the global auto industry, led innovation models, mastered cutting-edge technology and formed innovation capability. " AUDIENCE TAKING PHOTOS MEDIA BRIEFING IN PROGRESS (SOUNDBITE) (English) VOLVO CARS PRESIDENT HAKAN SAMUELSSON SAYING: "Because we see we can, with a tighter cooperation, Volvo being owners in Lynk & Co. We will have a more close relationship, we can be even more open, and we can be even more supportive in developing Lynk & Co into a global brand, and then we will of course look into various areas and see how we can support that development in distribution and development." AUDIENCE TAKING PHOTOS
  • Embargoed: 18th August 2017 10:46
  • Keywords: Volvo Geely Holding engines carmakers
  • Location: NINGBO CITY, ZHEJIANG PROVINCE, CHINA
  • City: NINGBO CITY, ZHEJIANG PROVINCE, CHINA
  • Country: China
  • Topics: Company News Markets,Economic Events
  • Reuters ID: LVA0016SQQMX9
  • Aspect Ratio: 16:9
  • Story Text: Sweden's Volvo Cars, a unit of Zhejiang Geely Holding Group, has agreed to make some engine technology available for Geely-branded vehicles, deepening ties between the carmakers who already share technology through third brand Lynk & Co.
    Geely and Volvo held a signing ceremony in southeast China's Ningbo on Friday (August 4) for two joint ventures. One is for technology sharing and cooperative purchasing, while the other one is for the newly-launched Lynk & Co.
    Volvo is expected to share a 2.0-liter turbo-charged engine at a later date and will also allow Geely-branded cars to use a common vehicle platform the two automakers developed jointly for Volvo and Lynk & Co.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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