Volvo in talks to merge with Chinese company Geely by end of this year


Volvo in talks to merge with Chinese company Geely by the end of this year after abandoned Stockholm float

Tie-up: Volvo is in talks to merge with Chinese company Geely

Volvo is in talks to merge with Chinese company Geely by the end of this year.

The car makers are preparing a proposal for their boards about combining the businesses. 

The merged firm would be listed in Hong Kong and later Sweden, according to a statement yesterday.

Both are chaired by Chinese tycoon Li Shufu, who bought Volvo from Ford in 2010, and is keen for Geely to expand outside of China.

An attempt to list Volvo for £23billion in Stockholm in 2018 was abandoned.

 

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