Geely Licenses Volvo Technologies

Zhejiang Geely Holding Group has signed three "cooperation agreements" that will give it access to technologies its Volvo Cars unit plans to phase out by mid-decade.

Geely says it will swap its market and cost control expertise in return for Volvo technologies relating to safety, cabin air filtration and vehicle platforms.

The Chinese company is expected to use the technology in part to develop its own Geely luxury brand.

Geely acquired Volvo two years ago but was barred from immediate access to the Swedish company's technologies by former owner Ford Motor Co. Volvo is moving away from its current Ford-influenced products under a $11 billion program to build future models on a single expandable vehicle platform and power the vehicles with a family of engines that share the same modular architecture.