Li Shufu, chairman of Zhejiang Geely Holding Group, said at a news conference held on Monday that after the merger of the two companies, a powerful global group will be established? This information was officially announced in Volvo official website today. ? Li Shufu said that the goal of the merger is to strengthen cooperation within the group while maintaining the competitive advantage and integrity of each brand. ? The combined business will be listed in Stockholm, Sweden and Hong Kong. At present, Geely Automobile is listed in Hong Kong. ?
After the merger, the two companies will own Volvo, Geely, Link and Polaris, and Geely's new energy brand Geometry will also be included. Volvo and Geely will set up a joint working group to prepare proposals for their respective boards of directors.
20 10 Geely Holding Group, the parent company of Geely Automobile, acquired Volvo from Ford Motor Company. ? 2065438+In September, 2008, the CEO of Volvo Cars said that due to the intensification of global trade tensions, the market situation? Become unpredictable, the company will postpone the initial public offering IPO plan. ?
In the past year, Li Shufu, the boss of Geely Group, has been advocating the issue of global integration. Under this problem, resources will be raised to develop technologies such as electrification and autonomous driving. So the merger of Volvo and Geely is not sudden. There are similar cooperation or alliances in the automobile industry. For example, Audi AG and Ford Motor Company reached an extensive cooperation agreement last year, and FCA Fiat Chrysler Group will also merge with PSA Group, the owner of Peugeot brand.
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