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Geely and Volvo’s Lynk & Co set to expand to Gulf region in Q4 2021 -Breaking

© Reuters. FILE PHOTO: Geely vehicles and logo are seen at a car dealership in Shanghai, China August 17. REUTERS/Aly Song/File Photo

SHANGHAI (Reuters) – Geely and Volvo Car’s joint Lynk & Co brand said on Wednesday it plans to expand its sales network beyond China and Europe to the Gulf region in the fourth quarter of this year.

Lynk & Co, which sells and rents cars to customers on monthly subscriptions, will also begin its Asian market expansion “in due course”, it said in a statement.

It will mainly sell its cars through dealers in the Middle East and Asia, like China, rather than use the subscription model it has established in Europe, said Lin Jie, a Geely Auto senior vice president who also oversees Lynk & Co’s sales.

He did not specify which countries it planned to enter but said the company would focus on places with a left-hand drive system, like China.

The five-year-old brand, which currently offers just one China-made SUV compact car in hybrid and plug-in hybrid form, saw 29% sales growth in the first half of 2021 to 17,077 units, Geely reported in July.

Last week, its CEO Alain Visser told a car conference in Germany that the company could be profitable within one or two years in Europe.

Lin said the brand had also started to trial a subscription-like service in the eastern Chinese cities of Hangzhou and Ningbo.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.