FRANKFURT, Germany -- Volvo Cars and Chinese parent Geely said Monday they will combine their internal combustion engine segments into a standalone company in an effort to free up resources for developing electric vehicles.
Automobiles
Volvo and Geely to spin off engine ops to focus on EVs
New combined unit will supply gasoline engines and hybrid systems worldwide
Geely will merge its gasoline engine operations, such as this plant in Hangzhou, China, with Volvo's by the middle of the next decade. © Reuters
Read Next
Latest on Automobiles
