Volvo to Share its Engine Technology and Manufacturing Secrets with Parent Company Geely
Volvo Cars from Sweden has agreed to avail some of its engines to Zhejiang Geely Holding Group- parent company for Volvo Cars, sources related to the company disclosed on August 3, 2017. The deal will deepen ties between both the car makers who are already sharing technology via third brand, namely Lynk & Co. three sources associated with Volvo and Geely quoted that the first Geely model powered by Volvo is expected to be released into the market late next year as a 2019 model car of the year. According to sources, the car will comprise of a brand new 1.5-liter gasoline engine with turbo charging. Volvo has been working on the development of this engine for smaller cars.
Volvo will probably share a turbo charged engine with a capacity of 2.0-liters in future and is willing to allow Geely’s cars to utilize a common platform developed by the two car manufacturers mutually for Lynk & Co and Volvo. A spokesman from Volvo said, “The deal of the joint venture between Geely Group and Volvo Cars announced lately means that already existing and forthcoming technologies can be shared by Geely Auto, Volvo Cars, and Lynk & Co, all under a legal licensed agreement.”
Geely, in a press release on Friday, quoted that it has successfully completed formulating the collaboration with Volvo and the joint venture will be known as GV Automobile Technology Co. As a fraction of this sturdy technology-sharing agreement, Geely and Volvo will co-operate on future development, automotive technologies, and purchasing of Lynk & Co. the joint venture will create a stage where all three brands, Lynk & Co, Volvo, and Geely will formally share their knowledge and technologies to develop the collaboration, a spokesperson from Geely stated.
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