Geely and Volvo Cars to Launch New Powertrain Joint Venture After Merger Negotiations Finalize

Sweden-based Volvo Cars and Chinese automaker Geely Auto are combining their vehicle powertrain operations into a new joint venture while maintaining their existing independent corporate structure. The joint venture will develop an electric hybrid powertrain and an internal combustion engine. In addition to developing new powertrains for electric vehicles under the new venture, the two automakers will share electric vehicle architectures and autonomous driving technology.