Gearhead News

July 23, 2021
With IPO in view, Volvo buys out Chinese joint ventures from Geely

Come 2022, China will officially scrap ownership limits on foreign automakers and the joint-venture agreements with local Chinese companies that those limits require. Volvo announced on Wednesday that it will take advantage of the rule change by buying out its various Chinese joint ventures. The joint ventures cover plants and sales operations… [#item_URL]