Daimler shares, Geely Holding Group and its brands intend to cooperate on an efficient hybrid system

On November 20, 2020, yiou automobile news that Daimler AG (parent company of Mercedes Benz) and Geely Holding Group (parent company of Volvo car) intend to cooperate on an efficient power system for next generation hybrid vehicle technology. The partners intend to jointly develop hybrid system solutions to create scale effects and enhance competitiveness in the global market. It is expected that the cooperation fields will include engineering research and development, procurement, industrialization and efficiency measures. Both sides of the cooperation regard the efficient power system technology as one of the core of the current automotive industry transformation, and the technology in this field will accelerate the transformation to zero emission travel. The two sides will use their global R & D network to jointly develop the next generation of gasoline engines for hybrid technology. The engine, which will be produced at partner's engine plants in Europe and China, is likely to be adopted by Mercedes Benz AG and its existing partners in China, and will be used in the rich brand portfolio of Geely holdings, including Volvo cars. For this reason, it will also be possible for the engine to be exported from China.