the new entity expected to become operational this year will provide engines transmissions systems and petrolelectric hybrid systems for use by both companies as well as other automakersbeijing geely automobile and sister company volvo cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric vehicles the companies said on wednesdaya year ago the two said they were planning to merge and list in hong kong and possibly stockholm giving volvo access to public markets as global automakers pursue alliances to respond better to the cost of the transition to electric cars tougher emission rules and autonomous driving advt in a joint statement on wednesday geely automobiles and volvo cars that they would perserve with their existing separate corporate structures after a detailed review of combination optionsthey said however they would launch a new company to combine their existing powertrain operationsthe new entity expected to become operational this year will provide engines transmissions systems and petrolelectric hybrid systems for use by both companies as well as other automakerszhejiang geely holding group geely automobiles parent bought volvo cars from ford motor co in 2010 last year geely automobile sold 132 million cars while volvo cars sold 661713 vehicles reuters published on feb 24 2021 at 0840 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app geely volvo geely automobile beijing volvo cars powertrain geely volvo electric cars homenewsgeely auto and volvo cars to launch powertrain venture after merger scrapped