Volvo Cars should do more to leverage global partnerships, Geely Holding's Li Shufu says
31/03/2026 12:32
GOTHENBURG, March 31 (Reuters) - Volvo Cars VOLCARb.ST should explore more ways to collaborate with sister brands like Polestar PSNY.O and Geely Autos 0175.HK and strengthen its research and development capabilities in China, Volvo Cars and Geely Holding chair Li Shufu said on Tuesday. "Working in isolation will ultimately lead to a self-destructive path to obsolescence," Li Shufu said during Volvo Cars' annual general meeting, referring to over $1 billion in impairments the company booked last year. "The board is actively working to address these serious challenges and is working to identify viable solutions without delay," he added. (Reporting by Marie Mannes and Alessandro Parodi, editing by Louise Rasmussen) ((Alessandro.Parodi@thomsonreuters.com;))