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China: Li Shufu: Geely and Volvo will join hands to develop electric cars

Geely and Volvo are discussing on the establishment of a joint R&D institution of the electric drive system and manufacturing company so as to gain ground in the future new energy automobile market, Chairman of Geely Holding Group Li Shufu disclosed recently.

“Although there isn’t a timetable for the era of pure electric cars yet, the orientation is quite clear,” said Li Shufu. Geely and Volvo will make large-scale investments in the research, development and manufacturing of electric drive system for automobiles, so as to embrace the arrival of the new energy vehicles era.
  
As a matter of fact, dating back to a long time ago, Geely and Volvo have conducted cooperation in the field of new energy cars. The EC7 pure electric car, the model that Geely is preparing to launch onto the market, also contains technical resources from Volvo’s electric automobile technology.
  
It is said that Geely has invested more than 1 billion yuan in the research and development of new energy cars, especially in its international cooperation and the integration of international advanced technical resources. This enables Geely to make a great substantial progress over the past few years in the research and development of new car models for energy conservation and new energy. As a result, the technical reserves have been basically accomplished.
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