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Geely, Volvo to Merge Engine Operations
China’s Zhejiang Geely Holding Group and its Volvo Car Corp. unit are merging their engine operations to form a new stand-alone business that will develop and supply conventional engines and hybrid-electric systems to Geely’s brands.
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China’s Zhejiang Geely Holding Group and its Volvo Car Corp. unit are merging their engine operations to form a new stand-alone business that will develop and supply conventional engines and hybrid-electric systems to Geely’s brands.
The new group is expected to total about 8,000 people (5,000 from Geely and 3,000 from Volvo), who entail powertrain-related staff from engineering, manufacturing, purchasing, information technology and finance. No layoffs are anticipated.
In addition to Geely’s namesake brand and Volvo, the business will supply engines and hybrid systems to Geely’s Lotus, Lynk & Co., Proton and LEVC units. The latter makes London’s iconic black taxis.
The various brands had combined sales of 2 million vehicles worldwide last year.
Volvo says consolidating engine operations will help accelerate its transition to electrified vehicles while maintaining a core competency in combustion engines.
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