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Volvo cars and Geely may create a global group

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Volvo cars and Geely may create a global group
February 10
13:00 2020

Since 2010, Volvo Cars AB, a famous Swedish automaker, has been owned by the Chinese holding Geely Automobile Holdings. The companies have seriously begun to work out a scenario of a full merger. The management of both companies believes that the business merge will bring technological and financial interaction to a new level.

It is assumed that Hong Kong will become the main platform for entering global financial markets. Also, it is possible that listing of securities of the future company will be held in Sweden. Nothing will be changed for final consumers – all current car brands will be retained. It is about Volvo, Geely, Lynk & Co. and Polestar.

The Geely brand is not popular among Europeans. Nevertheless, the automotive group’s portfolio includes the following well-known brands: Volvo Cars, Lotus Cars, London Electric Vehicle Company and others. The Chinese holding has had approximately 52,400 employees. The company’s capitalization exceeds $ 16 billion.

The Swedish concern Volvo Cars was founded in 1927. About seven hundred thousand cars of this brand were sold over the past year. About 41 000 people work for the company.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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