Volvo Cars completes the divestment of its 30 per cent stake in Lynk & Co

Volvo Car AB (publ) (“Volvo Cars”) today announces the successful completion of the divestment of its 30 per cent stake in Lynk & Co to Zhejiang Zeekr Intelligent Technology Co., Ltd. (”Zeekr”), a transaction valued at RMB 5.4 billion (approximately SEK 8 billion).

The divestment received approval from an Extraordinary General Meeting of Volvo Cars shareholders on February 6 and 70 per cent of the consideration has now been paid in cash. The remaining 30 per cent plus interest will be paid one year after today’s closing.