By Jon LeSage Volvo and parent company Zhejiang Geely Holding are forging a new joint venture to share technology and speed up next-generation vehicle electrification.
Separately, Volvo announced it will take a “significant” minority share in sibling brand Lynk & CO. The startup Geely subsidiary will tap into Volvo’s vehicle technology and dealers as it readies for a 2019 sales launch in the European and U.S. markets.
One idea behind the moves is to synergize operations into economies of scale for greater profitability by collectively sourcing components and cutting procurement costs.
A second aspect is to speed up new vehicle launches through shared technology and resources
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