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Daimler: to develop hybrid engine with Geely

( - Daimler AG and Geely Holding, the respective parent companies of Mercedes-Benz AG and Volvo Cars, plan to jointly develop engine systems for new generation hybrid vehicles.

Both groups aim to improve their global competitiveness and create real economies of scale, Daimler says.

Together with our partner, we will jointly develop the next generation of advanced technologies to stay at the top of the industry in this time of far-reaching change," says An Conghui, head of Geely Holding Group and Geely Auto Group.

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