Volvo Cars and Geely Automobile Holdings Limited, the publicly traded auto unit of the Zhejiang-based Geely Holding Group, are considering a possible restructuring through a combination of the businesses of the two companies, according to a statement Monday.
The considered combination intends to preserve the distinct identities of Volvo, Geely, Lynk & Co and Polestar brands.
The combined company would have access to the global capital market through Hong Kong, where Geely Automobile Holdings Limited is currently traded, with the intention of a subsequent listing in Stockholm.
This integration is expected to accelerate financial and technological synergies between the two companies, said Li Shufu, chairman of Geely Holding Group that wholly owns Volvo. Enditem