Volvo Cars executes on its strategic ambitions - divests its holding in Aurobay to Geely Holding
Volvo Cars has a strategic direction to become fully electric by 2030 and shape the future of mobility. In line with those strategic ambitions, Volvo Cars will divest its 33 percent holding in Aurobay to Geely Holding. The divestment is yet another important step in Volvo Cars’ transformation towards becoming a fully electric car manufacturer. It also makes Volvo Cars the first car manufacturer to fully exit its participation in the development and manufacturing of internal combustion engines. “The automotive industry is going through rapid change and Volvo Cars is committed to