Geely Automobile (0175.HKG, GRU.FRA) plans to offer cars jointly developed with Swedish carmaker Volvo in 2015, Bloomberg reported, citing the Chinese automaker’s CEO. Zhejiang Geely, Geely’s parent company, acquired Volvo from Ford Motor (F.NYSE) for US$1.8 billion in 2010. The Swedish automaker signed a memorandum with Zhejiang Geely last year to “leverage its full access” to technology. In February this year, Volvo said it will establish a joint research and development center in Sweden with Geely. Volvo has also begun test runs at its first factory in China as it aims to double sales to 800,000 vehicles in the world’s largest auto market by 2020.
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