- Volvo Cars and Geely signed an agreement under which the Swedish company authorizes the transfer of its technology to its parent.

- Geely announced that it has signed several technological cooperation agreements to access the expertise of Volvo regarding its platform of medium-sized vehicles, the indoor air quality and safety.  Geely and Volvo had already announced that  a technology transfer would be possible, as  Volvo owns advanced skills in a wide range of technologies.

- These technologies, as well as these skills, are critical to the Geely Group to expand into foreign markets and improve the quality of its products.

- In exchange, Geely will  enable Volvo to be more competitive in the Chinese market and reduce its  production costs.

Data source: File #104 - Worldwide production by makers and country