Volvo Cars and Geely announced that they have plans to create a standalone business focused on developing the next generation combustion engines and hybrid powertrains.
The new arrangement is to allow Volvo Cars to focus on developing electric drivetrains. Volvo has high hopes that by 2025, 50% of the brand’s sales volume will be fully electric.
This latest development comes in line with Volvo Cars’ ambitions to include a hybrid and full-electric powertrain for all their models.
For Geely, the planned new entity means technologically advanced and efficient combustion engines and hybrid powertrains would be easily available to Geely Auto, Proton, Lotus, London Electric Vehicle Company (LEVC), and Lynk & Co.