Volvo Cars divests its holding in Aurobay to Geely Holding; to be part of new Renault-Geely powertrain company
Green Car Congress
NOVEMBER 8, 2022
Volvo Cars has a strategic direction to become fully electric by 2030 and shape the future of mobility. In line with those strategic ambitions, Volvo Cars will divest its 33% holding in Aurobay to Geely Holding. Aurobay will become part of the new global company specializing in hybrid and low- emission powertrains being formed by Renault and Geely. Earlier post.). The divestment is yet another important step in Volvo Cars’ transformation towards becoming a fully electric car manufacturer.