Volvo profit rises, plans tech-sharing Geely venture
Carmaker aims to reach sales of 800,000 cars within the next few years
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Stockholm
SWEDEN'S Volvo Cars sold more vehicles in Europe and China in the first half that helped drive up earnings 21 per cent and said it would set up a joint venture with its Chinese parent to share technology with other brands in the Geely group.
Under Chinese ownership since being bought by Zhejiang Geely Holding Group from Ford in 2010, Volvo has taken on larger rivals such as BMW and Daimler's Mercedes-Benz with new premium models.
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