Volvo Cars and Geely intend to merge their existing combustion engine operations into a stand-alone business in order to establish a new global supplier that will seek to develop next generation combustion engines and hybrid powertrains.
Imagine a world in which you travel long distances without the need for airports. A world in which you can avoid airport security, hours of queuing and waiting, and noisy, cramped airliners. What if, instead, you could take your own first-class private cabin that picks you up at home and takes you from door to door?
Volvo Cars, the premium car maker, has announced new financial and operational ambitions that will position the company as a leading player in the global automotive business by the middle of the next decade.
Volvo Cars, the premium car maker, has reported strong growth in operating profit of SEK6.8bn in the first half of 2017, compared to SEK5.6bn for the same period last year, after taking market share across Europe and experiencing a robust sales increase in China.
Volvo Car Group, the premium car maker, has reported third quarter operating profit of SEK2,067m compared to SEK1,276m in the same period last year and a year-on-year increase in revenue to SEK41,1bn from SEK36.1bn previously. The operating margin rose from 3.5 per cent in the third quarter of 2015 to 5 per cent in 2016.