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Geely plans to have Volvo Cars oversee the operation of Lynk & Co in Europe.
Geely Automobile (00175) announced that, through its indirectly wholly owned subsidiary, it has entered into a non-binding memorandum of understanding with Volvo Car regarding the business operations of Lynk & Co, which is an indirectly wholly owned subsidiary of the Group, in Europe.
Pursuant to the memorandum of understanding, Volvo Car will be responsible for regional operation matters for the Lynk & Co brand in the European region, including but not limited to market promotion, sales, and after-sales services, to accelerate the scalable growth of Lynk & Co in the European market. The proposed arrangements are expected to cover several key European markets, including Germany, France, Spain, and Italy.
The company said that the cooperation is intended to support Lynk & Co’s sales, market promotion, and customer service functions in Europe by leveraging Volvo Car’s mature central business operations platform, reliable dealer network, and after-sales service locations, thereby improving operational efficiency and accelerating its expansion pace to support higher sales volumes.
Lynk & Co will continue to retain overall design, research and development, and product certification responsibilities for its product portfolio.