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.
Volvo Cars today announced its autonomous driving (AD) software development subsidiary Zenseact has received a strategic investment by ECARX, the privately-owned Chinese provider of cutting-edge connected car technology.
Volvo Cars and its parent company Geely Holding have agreed to create a joint venture under the name Aurobay for its powertrain operations, as the companies proceed with their earlier announced plans to merge these into a new, stand-alone business.
For Volvo Cars, electrification is more than simply a shift in powertrains. It represents a new paradigm in car design, and the Volvo Concept Recharge is a manifesto for the next generation of all-electric Volvos.
In Volvo Cars’ next generation of fully electric cars, customers can look forward to a car that gets better every day and offers a simple, serene and seamless Volvo user experience – from getting a car, to being inside it and controlling it on your mobile device.