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Volvo

Dating back to 1927, when its first model was built, Volvo Group used to build trucks and cars, as well as marine and aero engines. In 1999, it sold its car business to Ford Motor for US$6.45 billion, and focused on commercial vehicles. Ford sold Volvo to China’s Geely in 2010.

Chairman / President

Martin Lundstedt

CEO / Managing Director

Martin Lundstedt

CFO / Finance Director

Mats Backman

Industry

Heavy equipment

Website

volvogroup.com

Headquarters address

AB Volvo, SE-405 08 Gothenburg, Sweden

Stock Code

OMX:VOLV B

Year founded

1927

Xpeng X9 electric vehicles in Guangzhou. Photo: AFP

Electric & new energy vehicles

Xpeng sets up first self-branded EV supercharging station in Hong Kong

Fierce competition among auto manufacturers is extending to charging technologies.

21 Mar 2025 - 6:15PM

Google

Automotive OS to the fore as drivers seek smartphone-style in-car features

23 Dec 2024 - 5:15PM

Electric & new energy vehicles

Why Zeekr shares slumped in New York on news of Geely Auto reorganisation

13 Jan 2025 - 3:50PMvideocam

China-EU relations

China EV tariff vote leaves EU relieved yet wary of retaliation

Decision to slap duties of up to 35 per cent on mainland imports lays bare divisions in European leadership as complex negotiations continue.

6 Oct 2024 - 6:15AMvideocam

129

Electric & new energy vehicles

Opinion | How Chinese EV makers can survive and thrive in Europe

China can produce affordable EVs for the world if executives adapt their management practices to fit with European cultural norms and regulations.

27 Sep 2024 - 6:00AMvideocam

Electric & new energy vehicles

Geely-owned Volvo shifting EV production to Belgium from China, report says

The carmaker will start making the EX30 and EX90 models in Belgium and may also shift the production of other models bound for the UK, the Times reported.

10 Jun 2024 - 3:37PM

Americas and the Caribbean

China’s Latin American investments downshift to smaller, more strategic projects

High-risk, high-cost mega-infrastructure projects like those backed by Belt and Road Initiative decline in popularity, with developments now seen in sectors with faster returns and fewer operating costs.

22 Feb 2024 - 10:58PMvideocam

China-EU relations

Tesla not part of EU probe into Chinese subsidies, but could still face duties

Brussels is now focused on three Chinese-owned manufacturers in quest to level playing field for European EV makers.

27 Oct 2023 - 4:54AMvideocam

Electric & new energy vehicles

Chinese EV maker Zeekr sweeps into Europe amid subsidy spat

The company started European sales of two models just weeks ago and plans to add another seven by 2025, but its aspirations could run into a roadblock should the European Union impose extra import tariffs on Chinese EVs.

25 Sep 2023 - 5:34PM

Mergers & Acquisitions

China’s Geely to double Aston Martin stake in US$291 million deal

Geely will acquire a 17 per cent stake in Aston Martin Lagonda Global Holdings to become UK sports car maker’s third largest shareholder.

18 May 2023 - 6:50PM

An Aston Martin Valkyrie car is driven off the production line at the company’s factory in Gaydon, Britain, on March 16, 2022. Photo: Reuters

Geely

Sweden’s move to block foreign investments worries businesses

Sweden remains one of only nine in the European Union that have no legal possibility of blocking foreign investments on security grounds

16 May 2023 - 1:51PM

A rubbish bin with words that mean “The danger is not over - Keep your distance” on a pedestrian street in central Uppsala in Sweden on Wednesday, Oct. 21, 2020. Photo: TT News Agency via AP.

Electric & new energy vehicles

Shanghai Auto Show: world’s largest vehicle fair dazzles with latest models

Battery power took center stage, with makers jostling to show off their electrification credentials.

19 Apr 2023 - 4:11PM

Electric & new energy vehicles

China’s Geely plans to turn maker of London black cabs into EV powerhouse

China’s Geely is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles.

23 Jan 2023 - 3:11PMvideocam

Hong Kong society

Swedish festive cheer shared with Operation Santa Claus

Swedish Winter event invites Operation Santa Claus beneficiaries to take part in the fun.

21 Dec 2022 - 1:55PM

Consul General of Sweden Per Augustsson, who organised the annual Swedish Winter event, with Santa Claus. Photo: Jonathan Wong

Geely

China’s Geely takes 8 per cent stake in ultra-luxury carmaker Aston Martin

Chinese carmaker Geely has taken a nearly 8 per cent stake in Aston Martin, the maker of ultra-luxury sports cars favoured by fictional secret agent James Bond.

30 Sep 2022 - 8:15PMvideocam

An Aston Martin DB5 Goldfinger Continuation, a limited edition recreation of James Bond’s DB5 in the 1964 film Goldfinger, on display at The Peninsula Hotel in May 2021. Photo: Winson Wong

Geely

Geely joins BYD, Tesla in electric truck fray, launches Homtruck

Zhejiang-based Geely unveiled its electric truck, called Homtruck, late on Monday in Shanghai and said it aimed to produce 570,000 trucks by 2030.

10 Nov 2021 - 2:24AM

IPO

Volvo cuts back the size of its stock sale by a fifth to US$2.3 billion

European companies including Dutch consumer-electronics retailer Coolblue and health care property company Icade Sante have put their IPO plans on ice in recent weeks as investors became picky about where they put their money amid a flurry of deals.

25 Oct 2021 - 4:22PM

Automotive industry

Geely’s Lynk launches mid-size SUV, heads to Saudi Arabia, Kuwait

Lynk’s 09 plug-in hybrid SUV to take on Tesla’s Model Y and NIO’s ES6 in China.

21 Oct 2021 - 1:17AM

A Lynk & Co 09 SUV is displayed at its launch ceremony in Shanghai on Wednesday. Photo: Daniel Ren

Geely

Renault makes China comeback with Geely deal after exiting Wuhan venture

Renault is returning to the world’s largest passenger car market with a new focus and partnership with Geely, after abandoning a pandemic-hit venture in Wuhan in April last year.

9 Aug 2021 - 9:20PM

Geely

Geely scraps US$3 billion secondary listing on Shanghai’s Star Market

Geely Automobile Holdings, China’s largest private carmaker, has decided to scrap a secondary listing on Star Market, the Shanghai Stock Exchange’s Nasdaq-like board for start-ups, it said on Friday.

28 Jun 2021 - 2:32PM

Electric & new energy vehicles

Geely shares jump as carmaker waters down planned merger with Volvo

Both vehicle manufacturers have now agreed to an equity merger of their powertrain operations, and will jointly develop electric vehicle platforms.

25 Feb 2021 - 4:06PM

Workers are seen on the side of an assembly line at the Volvo Cars manufacturing plant in Daqing, Heilongjiang province in June 2018. Photo: Reuters

Mergers & Acquisitions

Geely and Volvo call off merger, agree to collaborate more instead

Billionaire Li Shufu has been forging ties with a vast array of companies as Geely pushes to stay abreast of the two great shifts hitting the industry: electrification and automation.

25 Feb 2021 - 3:56AM

Geely

Geely chairman Li Shufu starts satellite venture to rival Elon Musk’s SpaceX

Hangzhou-based Geely, owner of Volvo Cars, plans to launch commercial low-orbit satellites by the end of this year, which would give it an edge in providing an accurate navigation system for autonomous cars.

3 Mar 2020 - 7:32PM

Geely

Chinese automobiles tycoon Li Shufu to merge Geely, Volvo

Chinese automobiles tycoon Li Shufu plans to merge Geely Automobile Holdings with Volvo Cars, which he acquired from Ford Motors in 2010, in a move that will create a global car manufacturing powerhouse.

11 Feb 2020 - 10:02PM

Geely

Why Geely’s founder Li Shufu wants more iconic British car brands

Geely’s Li Shufu is looking to transform the Chinese conglomerate from a carmaker into a provider of transport services such as car-sharing, flying taxis and high-speed trains

23 Jan 2020 - 11:00AM

Geely founder Li Shufu’s track record of making deals succeed puts Geely in the driver’s seat in Asia as carmakers seek alliances. Photo: Bloomberg

US-China trade war

The US state caught between China and the White House

South Carolina officials hopeful ‘phase one’ deal can remove uncertainty that has raised tension with its largest export market and caused companies to delay investment decisions.

11 Jan 2020 - 10:28AMvideocam

South Carolina is struggling under US President Donald Trump’s trade war.

Consumers

Sales of luxury cars shrug off decline in China’s slowing market

Sales of 10 premium brands, which includes BMW, Mercedes-Benz, Audi, Volvo and Lexus, have risen in China compared to the 11 per cent decline in overall car volumes in the year’s first eight months.

6 Oct 2019 - 10:57PM

Volvo to limit top speed of new cars to 180km/h

Carmaker will be first to install cap across entire range, though police vehicles will be exempt.

5 Mar 2019 - 12:54PM

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