November 20, 2020 – 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.
Our goal continues to be CO₂-neutrality. By 2039, our ambition is a completely carbon-neutral new passenger car fleet. The consequent electrification of our powertrain portfolio therefore is an integral part of our drivetrain strategy. To this end, we are systematically converting our portfolio, so that by 2030 more than half of our passenger car sales will be comprised of plug-in hybrids or purely electric vehicles. We are looking forward to the future; when, together with Volvo’s ICE unit and Geely, we will further extend our synergies in the field of highly efficient drivetrain systems in China and the world. At Mercedes-Benz, the newly established unit Mercedes-Benz Drive Systems will spearhead the project and create cost efficiencies.
Daimler is dedicated to sustaining and enhancing our global competitiveness with our strong engineering competency and our cooperation with industry-leading partners. We have witnessed strong momentum in the development of the Chinese automotive industry over the past years, and we believe China will continue to offer great potentials in terms of innovation, efficiency and economies of scale. With this cooperation with the wider Geely Holding Group, we will not only enhance our footprints in the world’s largest automobile market, but also strengthen our position along the global industry value chain for the future.
Clean and highly efficient powertrains are integral to our core competitiveness. With our full commitment to electrification supported by our new ‘Sustainable Experience Architecture (SEA)’ as the core pillar, we will continue to seek competitive advantages in R&D, Production, Supplier Management and other fields and focus on the development of premium electrified vehicles. This project reflects the need for economies of scale and targeted research and development investment in clean and highly efficient powertrains and hybrid drive systems and their applications. Together with our partner, we will jointly develop next generation of advanced technologies in order to remain at the top in the industry in times of wide-ranging change.