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Geely Volvo's merger has finally made substantial progress. On the evening of February 24, Geely Holdings issued the latest announcement on the Hong Kong Stock Exchange to announce the latest merger plan with Volvo Group. Geely Holdings said in the announcement that after a detailed study of various merger options, the two sides have found the best merger plan, that is, the two sides will carry out a series of business mergers and cooperation on the basis of maintaining their existing independent company structure. On February 10, 2020, Geely announced that its management was in preliminary discussions with Volvo's management and had discussed restructuring through the business merger of the two companies.
On November 17, Zhejiang Geely Holdings Group (hereinafter referred to as "Geely Holdings") issued an announcement to reduce its stake in Volvo cars by 3.3%, and Geely Holdings's stake in Volvo cars fell from 82% to 78.7%. Geely Holdings explained in the announcement that in order to further improve Volvo cars
In order to deepen cooperation in capital and business, Geely and Volvo jointly announced plans for a "restructuring and merger" in February this year to form a strong global automotive group to achieve synergy between cost structure and technology development. to meet future challenges. However, due to a number of reasons, the plan was temporarily shelved, and recently the chairman of Geely Motor talked about the restructuring and merger plan. On the last day of 2020, Geely Li Shufu delivered a 2021 New year's address, summing up Geely's achievements over the past year, Li Shufu also talked about the restructuring and merger with Volvo. Li Shufu said: "in 2021, we will be in.
On the evening of Feb. 10, Geely issued an insider announcement that its management was in preliminary discussions with the management of Volvo AB (Volvo) to explore the possibility of restructuring through the merger of the two companies. Geely said that when the two companies were restructured, they would become a strong global automotive group, achieving synergies between cost structuring and technology development to meet future challenges. After the reorganization, Geely Motor in Hong Kong will be docked with the global capital market through the main body of the listing. The next step will be to consider listing in Stockholm, Sweden, but there is no relevant timetable or detailed plan.
Yuan Xiaolin, senior vice president of Volvo Automotive Group worldwide, president and CEO of Asia Pacific, responded to personnel changes for the first time in an interview with the media on August 24. "it seems sudden, but this is a normal personnel transfer," he said. "there is no such thing as' China and Switzerland'. We are on the other side." August
On May 13, Volvo officially announced that its board of directors had decided to re-evaluate the possibility of IPO, which is expected to be listed on the Stockholm Stock Exchange of Sweden later this year. However, the final decision on listing depends on the market environment, and there is no guarantee that the listing will take place. This is not the first time Volvo has heard the news of IPO. Volvo started the process of listing in 2018, hiring top investment banks, including Citigroup, Goldman Sachs and Morgan Stanley, to coach Volvo. At that time, Geely valued Volvo at $160-30 billion, while Volvo was given 120.
As we all know, Geely, a leading domestic car company, and Volvo, a multinational luxury brand, announced plans for a merger in February this year. After the merger, Geely will also become a multinational car company, but due to some factors, the two sides suspended the merger plan until recently re-announced that they would resume negotiations.
On November 8, 2022, Volvo announced that its strategic direction is to achieve full electrification by 2030 and shape the future of mobile travel. To this end, Volvo will divest its 33% stake in Aurobay to Geely Holdings. The announcement pointed out that the divestment is Volvo.
As a wholly-owned subsidiary of Geely holding Group, Volvo inevitably suffered a huge impact under the spread of the global epidemic, and suffered operating losses in the first half of the year. On July 21, Volvo released its first-half results, with revenue of 111.8 billion Swedish kronor in the first half of 2020, down 14.1 percent from a year earlier, and an operating loss of 989 million Swedish kronor, compared with a profit of 5.519 billion Swedish kronor in the same period last year. The net loss was 1.171 billion Swedish kronor (about 920 million yuan), down 134.5 percent from the same period last year. Volvo car after Geely holding Group took over.
Yang Xueliang, senior vice president of Zhejiang Geely holding Group, announced on his personal Weibo that Qin Peiji, former president of Volvo Greater China, will join Geely as deputy general manager of Geely Automobile Group sales company. and is responsible for serving as the director of the Group Channel Development Committee, in charge of channel development and construction of the Automobile Group.
Geely and Volvo are exploring the possibility of merging their engine businesses, which is still in the planning stage and needs to be implemented after the two sides reach an intention to merge and complete due diligence, Geely Holdings said today. According to the plan, after the engine business, the partners will establish new powertrain business units, research and development, production powertrain and hybrid power system, and enhance the scale effect in R & D, production, procurement and operation. At the same time, the new business unit will become an independent powertrain supplier and can also supply other vehicle manufacturers. For Volvo, the plan will make Volvo cars.
According to the results released by Geely Automobile, Geely's revenue in 2019 was 97.401 billion yuan, down 9% from 10.66 billion yuan in 2018, and its net profit was 8.189 billion yuan, down 35% from 12.553 billion yuan in 2018. Geely said in the report that both operating income and net profit fell due to a larger-than-expected decline in overall sales during the year, as well as pricing pressure caused by weak demand and fierce market competition. At present, ample cash flow gives Geely the strength to cope with the impact of the epidemic on sales and production. However, Geely still said that "epidemic."
Daimler and Volvo, parent companies of Mercedes-Benz, are considering cooperation in the field of internal combustion engines to cut R & D costs, foreign media reported. It is worth noting that Volvo is 100% controlled by Geely, which is also the single major shareholder in Daimler, with a stake of nearly 10%. Volvo said it had held preliminary talks with Daimler on the matter, and a spokesman for the company said it was too early to talk about the project, but did not rule out the possibility. A Daimler spokesman said the company's cooperation with Geely was actively developing, but declined to comment further. October 2019, Geely and Waugh.
According to Geely's official announcement, the Xingyue L will be equipped with Volvo Drive-E 2.0TD four-cylinder turbocharged engines. It is understood that the new car is the first model with a Volvo Drive-E 2.0TD engine after the Geely Volvo merger. According to officials, the 2.0TD engine carried by Xingyue L will be available in two tuning versions, including 2.0TD-T4 engine with maximum power 160kw with peak torque of 325Nm and 2.0TD-T5 engine with maximum power 175kw with peak torque of 350Nm. In terms of transmission system, the two engines will match respectively.
in 2010, after Geely formally acquired a 100% stake in Volvo for $1.8 billion, Volvo became a domestic luxury brand under Geely. However, because Geely cannot use Volvo's technology, there is not much connection between the two brands. However, when Geely launched its new car a few days ago, it found that the front face of the family had been replaced with a Volvo design on a new model.
Volvo plans to IPO and list on the Nasdaq Stockholm Stock Exchange, and its new shares will raise a total of about 25 billion Swedish kronor (18.5 billion yuan), Volvo's official website said on Oct. 4. On IPO, Volvo CEO Hanken Samuelson said, "the decision to move forward with IPO will help enhance our brand and accelerate the transformation strategy of fully electrified, user-directed and higher levels of security. This will help the company achieve continuous growth in sales, revenue and profitability. " Volvo said the Nasdaq Stockholm deal.
Since Geely completed the acquisition of the Volvo brand, it has gradually improved its position in the domestic market with the halo of Volvo technology. Prior to this, it was announced that it would fully open the era of 4. 0 frame car construction, and bring a new high-end wide-body sedan PREFACE. With more and more news of the new car, the real car picture of the model has also been exposed a few days ago.
Geely's new compact SUV--FY11, officially named Xingyue, is the first Geely model to use a Volvo platform and engine. FY11 is based on the high-end sports SUV built under the framework of CMA, a platform shared with Volvo, which also produces Lecker-branded models and the Volvo 40 series. At present, it is known that the FY11 will carry the JLH-3G15TD 1.5T three-cylinder engine and Volvo's 2.0TD engine, which must be cheaper than the Lecker 01, while the overall price of the LEC 01 2.0T model is 15.88-220800 yuan. It is understood that F.
Geely, as a leading domestic car company, has achieved the improvement of its quality, and more and more of its models are becoming more and more high-end, especially after the successful acquisition of the Volvo brand, as a brand-new high-end wide-body sedan in the era of 4. 0 framework car construction, the new car price of PREFACE has been exposed a few days ago.
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