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Apr 21, 2014 NEWSwire
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China's Geely, Sweden's Volvo Discuss Electric Car R&D Joint Venture

Geely and Volvo will make large-scale investments in the research, development and manufacturing of electric drive system for automobiles.

Published: 21-Apr-2014

Geely and Volvo are discussing on the establishment of a joint R&D institution of the electric drive system and manufacturing company so as to gain ground in the future new energy automobile market, Chairman of Geely Holding Group Li Shufu disclosed recently.

"Although there isn’t a timetable for the era of pure electric cars yet, the orientation is quite clear," said Li Shufu. Geely and Volvo will make large-scale investments in the research, development and manufacturing of electric drive system for automobiles, so as to embrace the arrival of the new energy vehicles era.

As a matter of fact, dating back to a long time ago, Geely and Volvo have conducted cooperation in the field of new energy cars. The EC7 pure electric car, the model that Geely is preparing to launch onto the market, also contains technical resources from Volvo's electric automobile technology.

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