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Geely becomes largest stakeholder in AB Volvo, enters commercial vehicle sphere.
IHS Markit perspective
Implications: Zhejiang Geely Holding has now extended its interests in the CV segment by announcing the planned acquisition of Cevian Capital’s stake in AB Volvo.
Outlook: Zhejiang Geely acquired a commercial vehicle company in China in 2015 and this latest acquisition will also help the automaker strengthen its presence in the medium and heavy commercial vehicle segment, including a special focus on alternative energy vehicles.
Chinese privately owned automotive group Zhejiang Geely Holding Group (ZGH) has announced it has reached an agreement to become the largest shareholder in AB Volvo, thereby strategically strengthening its presence in the commercial vehicle (CV) market.
IHS Blogs
http://blog.ihs.com/geely-becomes-largest-stakeholder-in-ab-volvo-enters-commercial-vehicle-sphere