Geely Auto (00175) and Volvo Car have signed a non-binding memorandum of understanding regarding the Lynk & Co European business.

GEELY AUTO (00175) announced that the company, through its indirect wholly-owned subsidiary, has entered into a non-binding memorandum of understanding with Volvo Car Corporation (Volvo Car) regarding the business operations of its indirect wholly-owned subsidiary Lynk & Co Automotive Technology Limited (Lynk) in Europe. Under the memorandum of understanding, Volvo Car will be responsible for the regional operations of the Lynk brand in Europe, including but not limited to marketing, sales, and after-sales service, in order to accelerate Lynk's scalable growth in the European market. The proposed arrangement will cover several key European markets, including Germany, France, Spain, and Italy. The collaboration aims to leverage Volvo Car's established central commercial operations platform, reliable dealer network, and after-sales service points to support Lynk's sales, marketing, and customer service functions in Europe, thus enhancing operational efficiency and accelerating expansion to support higher sales volumes. Lynk will continue to retain responsibility for the overall design, research and development, and product certification of its product portfolio.