Going it alone on new model development is a costly endeavor even for large automotive groups – and practically out of the question for smaller manufacturers.
Volvo until now has built all of its models around the platforms and powertrains from its former owner Ford. Now it is seeking a new partner to jointly develop its next generation of compact models.
Currently owned by Chinese carmaker Geely, Volvo recorded an impressive 20 percent increase in sales last year. Still, with some 450,000 units, it remains a small player in the global automotive industry, thus the need for cost sharing on new model development.
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