Zhejiang Geely Holding Group announced that it has signed a deal with Volvo, which Geely acquired in 2010, allowing the Chinese company to tap some technologies the Swedish automaker plans to phase out over the next couple of years.
Geely said that it signed a total of three “technological cooperation agreements” with Volvo, giving it access to a mid-size vehicle platform, interior air quality, and safety technology.
The cooperation agreements would allow Geely to increase its vehicle engineering abilities and help it cut costs.
“Volvo Car enjoys a leading advantage in a number of technologies,” Geely said in a statement. “These technologies and experiences are valuable to Zhejiang Geely Holding Group’s exploration into overseas market and its product quality improvement.”
– By: Omar Rana