Press reports that this would be ‘the first Chinese car built in Europe’ are factually incorrect. Photo credit – Pixabay
Cars designed under Geely’s Lynk & Co brand could soon be made in Europe.
That’s according to multiple auto-industry publications, who report that Geely could make use of Volvo’s manufacturing facilities in Belgium to produce the car for the European market.
Volvo cars of Sweden is owned by Chinese company Geely – or Zhejiang Geely Holding Group, to give the company its full name.
Geely is based in Hangzhou and also manufactures cars under its own brand, as well as being the parent company of the London Taxi Company.
Therefore, press reports that this would be ‘the first Chinese car built in Europe’ are factually incorrect – with another example being MG’s, which are Chinese owned but partly built near Birmingham in the UK.
Nevertheless, this would probably turn out to be the most important example to date of a Chinese car being built in Europe.
Meanwhile, the relationship between Geely and Volvo continues to blossom.
In December, we reported that the Chinese firm will now become the largest shareholder in Volvo’s truck business.
Under the deal, Geely has furthered its investment in AB Volvo which is responsible for making trucks.
The agreement will see Geely take an 8.2 percent stake in AB Volvo, with an estimated value of over $3 billion, and become the largest single shareholder in the company.