Volvo Agrees to Give Old Technology to Geeley

VolvoVolvoSweden, 1927 > present49 models
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has signed an agreement with its parent GeelyGeelyChina, 1986 > present5 models
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that will Geely the rights to older Volvo technology. The two companies signed three separate agreements covering safety technology, comfort technology and Volvo's mid-size platform. This is all technology that Volvo either no longer uses or uses a more advanced form. 

As it came from its owner, Volvo did not have much of an option to share the technology whether it wanted to or not. Geely hopes that it will give it a step up in the Chinese market by using proven technology in its vehicles.

The agreement is too new for Geely to announce any specific uses for the technology that it is getting from Volvo, but the company has made it no secret that it wants to create higher quality vehicles for the Chinese market. A proven mid-size platform and safety equipment would be an easy step towards doing that. 

These technologies and experiences are valuable to Zhejiang Geely Holding Group's exploration into overseas market and its product quality improvement," said Geely when it announced the deal.

Source: Automotive News Europe