Daimler AG and Geely Holding, the respective parent companies of Mercedes-Benz AG and Volvo Cars, have launched plans to collaborate on developing highly efficient powertrain systems for next-generation hybrid vehicle applications, as it was informed by Daimler AG.
The cooperation is expected to see the companies work together on hybrid powertrain solutions to enhance their global competitiveness and create true economies of scale. Areas of potential cooperation include engineering, sourcing, industrialization and efficiency measures.
Both groups see efficient drivetrain technologies as central to the ongoing transformation of the automotive industry, and will accelerate the transition to emission-free driving. Both groups will use global R&D networks to work together on a next-generation gasoline engine specified for hybrid applications to be produced at the companies’ powertrain facilities in Europe and China, which could be utilized by Mercedes-Benz AG together with its established partners in China as well as the wider Geely Holding Group portfolio of brands including Volvo Cars. To this end, the export of the engine from China is considered to be an option.
Daimler AG is a multinational automobile manufacturer with its headquarters in Stuttgart (Baden-wurttemberg), Germany. Daimler's net profit for the first quarter of 2020 fell 12.8 times to 168 million euros from 2.149 billion euros a year earlier. Revenue decreased by 6% to 37.2 billion euros from 39.7 billion euros. EBIT was 617 million euros against 2.798 billion euros.
