Volvo and Geely Drop Merger, Betting They’ll Be Faster Apart
- Companies say they’ll explore capital market options
- Billionaire Li Shufu has broadened his global empire this year
Photographer: Tomohiro Ohsumi/Bloomberg
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China’s Geely Automobile Holdings Ltd. and its Swedish affiliate Volvo Cars are putting off earlier plans to merge, wagering they will be more agile as standalone entities.
The manufacturers will preserve their separate corporate structures while cooperating more closely on electrification, software and autonomous-driving technology, according to a joint statement. While they’ll no longer pursue a combination as announced a year ago, new listings could be on the table.