Video PlayerClose
HANGZHOU, Dec. 27 (Xinhua) -- China's Zhejiang Geely Holding Group has acquired 8.2 percent stake in Swedish truck maker AB Volvo from Cevian Capital, Geely announced on Wednesday.
The purchase makes Geely Volvo's largest owner by capital with 15.6 percent of voting rights.
AB Volvo was the parent company of Volvo Cars until 1999. Geely bought Volvo Cars in 2010.
Geely also owns brands including Geely Auto, Proton, Lotus and the London Electric Vehicle Company.
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.
