Article about Volvo

Published 3 months ago

Cars Volvo Published by J. Doe

Volvo Cars to take full ownership of its Chinese manufacturing and sales operations

Volvo Cars has signed an agreement with its parent Geely Holding to acquire Geely Holding’s stake in the companies’ joint ventures in China, with the aim of taking full ownership of its car manufacturing plants and sales operations in the country.

The acquisition of an additional 50 per cent of the shares in Daqing Volvo Car Manufacturing Co., Ltd and Shanghai Volvo Car Research and Development Co., Ltd, will further strengthen Volvo Cars’ position in China, its largest market, and maximize exposure to one of the fastest growing regions globally.

Original article

Jul 21, 2021 at 21:39