Geely acquires 8.2% of Volvo Trucks
- Volvo Trucks is one of the world's largest manufacturers of trucks, just behind the Daimler Group. Volvo Trucks currently comprises Volvo Trucks, Renault Trucks, Mack Trucks, UD Trucks (formerly Nissan Diesel) and Eicher Motors.
- Volvo Trucks was separated from Volvo Cars in 1999, when the Ford Group bought Volvo Cars, which it sold to Geely in 2010. Today, Geely has become the world's thirteenth-largest manufacturer (thanks in part to Volvo Cars) and the first independent Chinese automaker ahead of Changan (if Volvo production is integrated). In 2017, Geely sold 1.82 million vehicles worldwide, including 1.25 million under its own brand (mainly distributed in China) and 0.57 million under the Volvo brand (distributed worldwide).
- In line with their goal to become one of the world's top 10 automakers, Geely bought London taxi manufacturer LTC in 2012, and then took a 49% stake in Malaysian Proton and 51% in Britain's Lotus, then announced the acquisition of Polestar which will become in 2019 a full-fledged brand of the group. Finally, Geely just took 8.2% of Volvo Trucks' capital. This is a first step that could eventually lead to a future return of the Volvo group to the structure that existed before 1999, but this time under the direct control of the first independent Chinese automotive manufacturer.
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