Swedish carmaker Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in cases across Europe makes the outlook more uncertain, Chief Executive Hakan Samuelsson told Reuters. Volvo, bought by China's Geely Holding in 2010, has repositioned itself during Samuelsson's tenure as a premium carmaker with a range of popular sports utility vehicles (SUVs), taking on far larger rivals such as BMW and Mercedes .
Polestar, the performance electric vehicle maker based in Sweden and owned by China's Geely, plans to double the number of showrooms in existing markets this year and expand to new countries in Asia and the Middle East, its CEO said on Tuesday. The automaker started producing its Polestar 2 sedans this year in China and sells them in China, Europe and the United States. It plans to expand its sales network and is looking at new markets in the Asia Pacific region and the Middle East, Chief Exec
TAIZHOU, China/SHANGHAI (Reuters) - Chinese carmaker Geely plans to use a platform developed with input from Volvo to build new models in Malaysia for its partly owned Proton brand, a strategy that shows how it aims to accelerate its push to become China's first global auto giant. The yet-to-be-finalised plans for Proton are just one strand of a Geely project to revamp factories at home and abroad using joint platforms it has been perfecting with Volvo since 2013. Geely bought the Swedish bran
A combined company would preserve the distinct identity of each of the brands Volvo, Geely, Lynk & Co and Polestar, Volvo's electric brand. A deal would be subject to the approval by the boards and and shareholders of Geely and Volvo Cars, as well as by regulators.
BEIJING/SHANGHAI (Reuters) - Zhejiang Geely Holding Group Co Ltd [GEELY.UL] and Mercedes-Benz on Wednesday said they would each invest 2.7 billion yuan (295.98 million pounds) in a China-based venture to build "premium and intelligent electrified" vehicles under the smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler AG ma