Pages with tag Geely
Volvo and Chinese automaker Geely partner on electric vehicle technology companies
Volvo Cars and Geely Holding are announcing two joint ventures to rapidly develop next generation electrified vehicle technology. GV Automobile Technology will be 50/50 owned, with operations in China and Gothenburg Sweden. The LYNK car line will be manufactured by LYNK & CO, a newly formed JV between Volvo and Geely.
According to Reuters, they'll be sharing engine technology as well, and that Geely purchased Volvo from Ford seven years ago.
This is not about Volvo switching to an electric-only strategy. In July, the company said it would fully electrify its model line by 2019. This announcement with Geely obviously sets Volvo on that path. However the key word is ELECTRIFY, not ELECTRIC. That word lets an automaker weasel around, making it sound like they're moving to an electric drive train, when in reality an ELECTRIFIED drivetrain could be a gasoline engine with mild electric assist.
It is a big deal that Volvo's total model lineup will have some kind of electrification. It would have been far more significant if Volvo had announced an all-electric-only plan. Instead, they'll stick with plug-in hybrid or even more mild electrification for now. The company is pledging to launch five all-electric vehicles over the next few years.