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.