LYNK & CO IN EUROPE TO BE OPERATED BY VOLVO CARS TO SUPPORT GROWTH AND UNLOCK COMMERCIAL SYNERGIES

• Under a signed Memorandum of Understanding ("MoU"), Volvo Cars is planned to take on Lynk & Co's commercial and brand operations in Europe, further supporting the brand's growth plans in the region.
• Lynk & Co will maintain its strict brand independence and remain an integral part of the Geely Auto Group with no change in shareholding structure.
• The strategic partnership unlocks commercial synergies, leveraging Volvo Cars trusted retailer networks and established service points to provide comprehensive support for Lynk & Co customers in Europe. Both brands are majority owned by Geely Holding Group.

Gothenburg, March 30, 2026 – Volvo Cars and Geely Auto have signed a Memorandum of Understanding (“MoU”), for a new commercial partnership with Lynk & Co in Europe, subject to final agreements[1]. Under this MoU, Volvo Cars is planned to manage Lynk & Co’s commercial and brand operations in Europe, as well as the sale of Lynk & Co cars through selected retailers and its sales and servicing system in relevant European markets.

The expanded partnership builds on an already successful collaboration between the two companies. By leveraging Volvo Cars' trusted commercial infrastructure, Lynk & Co will be able to scale more efficiently while continuing to offer a distinct brand and product experience tailored to modern, mobility‑minded consumers.

While Volvo Cars will oversee commercial operations in Europe, Lynk & Co will continue to design, develop, and certify its global product portfolio as part of the Geely Auto Group. By leveraging Volvo Cars’ central commercial operations and mature dealer network, Lynk & Co Europe is expected to achieve faster scalability capable of supporting higher volumes.

[1] The details of the cooperation are subject to the definitive agreements to be signed by the parties and are conditional upon the relevant regulatory approvals.