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Geely takes 8.2 pct stake in Swedish truck maker Volvo

28 December 2017

China's automotive giant Geely has acquired a 8.2 percent stake in Swedish truck maker AB Volvo from Cevian Capital on Wednesday. The purchase of nearly three billion euros makes Geely largest owner of Volvo by capital with 15.6 percent of voting rights. The Chinese automaker is best known for its low-priced cars, but it is reinventing itself as an innovator through new-energy, self-driving and Internet-ready vehicles.