Geely and Volvo Car sign 3 technology cooperation agreements

Geely Automobile’s board of directors announced that Zhejiang Geely Holding Group Co., one of the 10 largest enterprises in the Chinese automobile industry, and Volvo Car Corp. have signed three technological cooperation agreements. The Swedish company is owned by Zhejiang Geely Holding Group. All three agreements pertain to GMC (mid-sized car) platform upgrade, interior air quality and safety on GX7 model.
To date, the two companies have not laid out the actual scope of cooperation. After Geely and Volvo have identified areas for actual cooperation, they will enter into a formal agreement that would regulate the funding of possible projects, the rights to use the result of the cooperation, as well as licenses and other terms of the cooperation. (December 13, 2012)