Volvo Cars owner Geely Holding to become largest AB Volvo shareholder


 

The Chinese owner of Volvo Cars is to buy 8.2% of AB Volvo, manufacturer of Volvo trucks, which will make it the Swedish manufacturer’s largest individual shareholder. Geely Holding said that the deal, currently subject to regulatory approval, will “strengthen the Volvo brand” with Geely’s own research and development in autonomous vehicles, electrification and vehicle connectivity. Geely Holding will buy its stake in the manufacturer from investor Cevian Capital, in a deal which will give the business 15.6% of voting […]