Geely Automobile announced on March 30 that it has signed a non-binding memorandum of understanding (MoU) with Volvo Cars to restructure Lynk & Co’s business operations in Europe. Geely taps Volvo to lead Lynk & Co expansion in Europe under new MoU Under the agreement, Volvo will take responsibility for Lynk & Co’s commercial and brand operations across Europe, including marketing, sales channels and after-sales services, covering key markets such as Germany, France, Spain and Italy. This shift means Lynk & Co will no longer rely solely on its self-built infrastructure in Europe, but will instead leverage Volvo’s established distribution and operational network to accelerate scale expansion. The cooperation does not involve any changes to the shareholding structure. Lynk & Co Z20 Lynk & Co will remain led by Geely Automobile Group, with product design, R&D and certification continuing to be handled independently, while the European side focuses on operational coordination. Lynk & Co was founded in Sweden in 2016 as a joint venture backed by Geely Holding, Volvo Cars and Geely Automobile. In November 2024, Volvo transferred its 30% stake to Zeekr for RMB 5.4 billion ($783 million), exiting as a shareholder. Lynk & Co is now owned 51% by Zeekr and 49% by Geely Automobile. As of February 2026, Lynk & Co’s cumulative global sales have exceeded 1.74 million units. Full-year sales in 2025 reached 350,500 units, up 22.8% year-on-year, with new energy vehicles accounting for 65% and overseas sales exceeding 30,000 units. Lynk & Co export shipment The move aligns with Geely’s broader global expansion strategy. CEO Gan Jiayue previously stated that in 2026 the group will prioritize allocating resources toward international business. Geely has set a 2026 overseas sales target of 640,000 units, up 52% year-on-year, with an internal stretch goal of 750,000 units. Structurally, Zeekr and Lynk & Co are positioned to drive premium market breakthroughs, while the Galaxy and Geely brands focus on volume growth. The strategy is shifting from standalone product exports to a more integrated global operation encompassing channels, services and brand management. At its recent earnings briefing, Geely confirmed plans to bring models such as Galaxy E5 and Starray 7 to overseas markets, while leveraging Volvo’s resources to scale up Lynk & Co models including the 08, 01 and Z20 in Europe.
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