Report: Volvo agrees to transfer some technologies to Geely

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.

[slider id=169193]

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

Source: AutoNews