(Reuters) – China’s Geely Automobile (0175.HK) said on Monday it is in early discussions with Swedish carmaker Volvo Car AB about combining the two businesses into a global business with listings in Hong Kong and Stockholm.
Zhejiang Geely Holding Group [GEELY.UL], Geely Automobile’s parent group, acquired Volvo from Ford Motor Co (F.N) in 2010.
The combined company would have “the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry”, according to the statement.
The combination of two companies would have brands including Volvo, Geely, Lynk & Co and Polestar. Geely’s new energy brand Geometry will also be included, a company spokesman confirmed.
There had been previous discussions about listing Volvo here as a separate company in Stockholm but these were put on hold in 2018.
Reporting by Anushka Trivedi in Bengaluru, Yilei Sun in Beijing; Editing by Sriraj Kalluvila and Keith Weir