China's Geely Automobile in talks on boosting ties with Volvo

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© Reuters. China's Geely Automobile in talks on boosting ties with Volvo© Reuters. China’s Geely Automobile in talks on boosting ties with Volvo

(Reuters) – China’s Geely Automobile (HK:) said on Monday it is in early discussions with Swedish carmaker Volvo Car AB about combining the two businesses into a global business with listings in Hong Kong and Stockholm.

Zhejiang Geely Holding Group [GEELY.UL], Geely Automobile’s parent group, acquired Volvo from Ford Motor Co (N:) in 2010.

The combined company would have “the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry”, according to the statement.

The combination of two companies would have brands including Volvo, Geely, Lynk & Co and Polestar. Geely’s new energy brand Geometry will also be included, a company spokesman confirmed.

There had been previous discussions about listing Volvo as a separate company in Stockholm but these were put on hold in 2018.

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