It was reported on November 17 that Daimler and Geely will cooperate to develop the next-generation hybrid engine, which is expected to be produced in China and Europe in 2024, as a highly efficient modular engine.
This is the first time the two groups have cooperated on engines. The new engine will be used on Daimler and Volvo cars and loaded on hybrid vehicles.
According to informed sources, Daimler and Volvo plan to establish a joint venture company with an amount exceeding 1 billion euros.
According to the German “Business Daily”, the cooperative research and development engine will be launched in 2024, and the annual output is expected to be hundreds of thousands of pieces.
As of press time, Daimler declined to comment on this, but admitted that the cooperation is based on the goal of improving the group’s competitiveness.
Daimler announced in early October that it will invest in electric vehicles on a large scale and will strive for the industry’s leading position in the fields of electric vehicles and automotive software. Daimler emphasized that the group will rebuild factories to meet the demand for electric vehicles.
A Renault spokesperson told Eurocar News that the cooperation between Daimler and Geely does not mean the end of cooperation between Daimler and Renault.
Since Geely acquired 9.69% of Daimler’s shares, the two parties have started cooperation in many aspects, reflecting Li Shufu’s proposition to promote cooperation and integration.