Geely Automobile Holdings Limited and Volvo Cars Announce Discussions Regarding Possible Combination of Businesses

February 10, 2020 | Geely Auto Group, Press Release, Volvo Cars

Geely Automobile Holdings Limited (Hong Kong 0175) announces that the management of the company is in preliminary discussions with the management of Volvo Car AB (“Volvo Cars”) regarding a possible restructuring through a combination of the businesses of the two companies (the “Proposed Transaction”) into a strong global group that could realise synergies in cost structure and new technology development to face the challenges in the future. The intention would be to preserve the distinct identity of each of the brands Geely, Volvo, Lynk & Co and Polestar. It is intended that the combined business will be listed in both Hong Kong and Stockholm to enable it to access the capital markets.

Geely Auto Retain Sales Champion Title for Third Consecutive Year, 2019 Sales Reach 1.361 Million Units

January 6, 2020 | Geely Auto Group, Press Release

Geely Automobile Holdings Limited (Geely Auto) has reported that December 2019 sales (including sales of Lynk & Co-branded vehicles sold by the Group’s 50% owned joint venture) reached 130,036 units, a year-on-year increase of 39.3%. Cumulative sales in 2019 reached 1,361,560 units, beating the 2019 revised annual target. In spite of a downturn in China’s automotive market, Geely Auto has seen its market share grow and retained its position as the best-selling Chinese brand for three consecutive years.