Geely's new automotive venture Lynk & Co plans to sweep the market with a host of new vehicles sharing a common platform with Volvo. Now, ties between the two Geely brands will grow even more as Volvo announced it will take a minority stake in Lynk & Co. While this is a little bit like using dad's money to buy something from your baby sister, the move makes Volvo part owner of the fledgling car brand.
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In a preliminary agreement announced today, Volvo, Geely, and Lynk & Co said they will share vehicle architectures and engine technologies. The companies will also cooperate on sourcing components, a move that will reduce costs among the partners. Intellectual property rights will remain with the individual company that developed a particular technology, but other companies in the group will have full access to the work via licensing agreements. The cooperation will be managed by a new joint venture owned equally by Volvo and Geely.
The move will accelerate the development of new electrified vehicles. In addition to vehicle architectures, battery cells, e-motors, and charging systems are expected to be shared across members of the group.
"Partnerships to share know-how and technologies are common practice in the automotive industry. This is the model we are adopting," said Volvo CEO Hakan Samuelsson in a recent statement. "This planned collaboration will strengthen Volvo's ability to develop next generation electrified cars."
The companies already committed to sharing a platform known as the Compact Modular Architecture. The platform will underpin Volvo's XC40, S40, and V40, and it will also be used on vehicles by Lynk & Co. Lynk & Co is expected to use a transverse-mounted 1.5-liter three-cylinder and 2.0-liter four-cylinder engines developed by Volvo and licensed to Geely.
Earlier this month, Volvo said that every single vehicle it introduces from 2019 will come equipped with an electric motor. Lynk & Co is also taking electrification seriously and will reportedly offer hybrid and plug-in hybrid powertrains on each of its model variants.
Lynk & Co announced last year it would launch its first model, an SUV, in the U.S., China, and Europe. The new company will also have a four-door sedan and an array of other models.
Source: Volvo
When I tell people I write about cars, the most common reply I receive is “Really?” I guess I never strike people as a car type as I drive down the freeway in the right lane going 60 mph in my old SUV. My gripes about driving in city traffic and fast drivers don’t help my case, either. For a time, the only cars I liked were old cars. Not old as in "classic" or "vintage," but as in well-worn. My first appreciation of cars came when I drove a very old Ford pickup. It wasn't perfect: I used a booster seat to reach the gas pedal, and the turn signal once fell off in my hand as I was learning to drive. But the thing I valued most was the memories. It took several years for me to truly become a "car person." Being a long-time writer and an avid reader has helped me develop a healthy curiosity and a desire to know how things work. This has made cars one of the most fascinating points of study for me because they are such intricate machines. I am interested in how cars can reach 200 mph, how they can run on hydrogen, and how they can drive and park on their own. I also enjoy learning how cars can solve problems whether it be in the form of reducing pollution, minimizing traffic, or helping people stay connected on the road. Yes, maybe I’m not a gearhead. Perhaps I’m a car nerd. Either way, I very much enjoy writing about cars and helping people stay in tune with the automotive industry. I wouldn't want to be writing about anything else. And don’t get me wrong: I know how to drool over a hot car. I am fascinated by the Tesla Model S, awed by the Lamborghini Veneno, and am hopelessly obsessed with the Audi R8.
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