Volvo Cars has secured shareholder approval to sell its 30% stake in Lynk & Co to Zeekr, completing a restructuring move initiated by parent company Geely. The €700 million ($755 million) transaction aims to enhance synergies between the two brands while streamlining product development and talent integration, Geely said.
As part of the deal, Lynk & Co will gain access to Volvo’s European dealer network, marking a shift in its retail strategy. Previously reliant on online sales and a subscription-based model, the brand will now distribute vehicles through select Volvo dealerships in Germany, Sweden, the Netherlands, Belgium, France, Spain, and Italy, with the possibility of expansion to other markets.
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Lynk & Co, founded in 2017 as a joint venture between Geely and Volvo, struggled to establish a strong foothold in Europe with its 01 SUV. However, the brand has since introduced the electric Lynk & Co 02, priced from €35,995. The retail partnership with Volvo is expected to boost its presence, with Volvo providing sales, logistics, and aftersales support.
“Our retail partnership with Lynk & Co fulfills all the requirements for continued success,” said Arek Nowinski, President of International Markets at Volvo Cars. “Lynk & Co will continue to manage product development and sales strategy, while Volvo’s retail expertise will support its growth in Europe.”
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The partnership, formalized in late 2024 through a joint venture, will also include cooperation on used car sales and spare parts distribution. Meanwhile, Zeekr, Geely’s premium EV brand, continues its European expansion, though its delayed German launch underscores challenges in the market. Volvo’s full divestment of Lynk & Co follows its strategic focus on electrification and premium positioning within the Geely portfolio.