In a bold move set to reshape the automotive industry, Zhejiang Geely Holding Group has announced that its premium electric vehicle subsidiary, Zeekr Intelligent Technology Holding Limited, will acquire a controlling stake in sister brand Lynk & Co. This significant restructuring marks the first major step in Geely’s comprehensive plan to streamline its extensive portfolio […]
Volvo Cars will divest its 33% stake in engine maker Aurobay to Geely Holding, a Chinese multinational automotive company, in an effort to become a fully electric car manufacturer by 2030. The financial terms of the deal were not disclosed. The proceeds from the stake sale will be leveraged to convert Volvo Cars into a […]
Volvo Cars and Northvolt will build a new 50GWh battery manufacturing plant in Gothenburg, Sweden with an investment of around SEK 30 billion ($3.28 billion) while offering up to 3,000 new jobs. To begin operations in 2025, the Swedish battery manufacturing project will also have a research and development center. The latter will begin operations […]