Volvo will develop new cars together with Geely

Volvo and its Chinese owner Geely created a joint research center in Sweden to develop new cars. The company sčtaût that it should reduce the price of Volvo cars and improve the quality of Geely.
However, the exchange of knowledge and technology should take place without compromising the integrity of the brand, according to the company. The Volvo promise that this in no way will impact negatively on the quality and safety of vehicles.

The new Centre will run about 200 full-time engineers from Sweden and China. They will develop a new modular platform and components for cars in the compact class segment. What components are common, not yet reported.
In 2010, one of the largest independent car manufacturers in China, Zhejiang Geely Holding Group company made a deal with the American company Ford Motor Co. about buying a Swedish Volvo Cars for 1.8 billion dollars.