As a way to “focus fully on the development of its new range of all-electric premium cars in coming years,” Volvo—along with parent company Geely—have created a venture to oversee Volvo’s “powertrain operations” and serve as a “global supplier of complete powertrain solutions, including next-generation combustion engines, transmissions and hybrid solutions.”
More simply put, Volvo and Geely have created a company called Aurobay that will continue to build Volvo’s internal-combustion and hybrid engines as well as associated transmissions. This, in turn, allows Volvo to go all in on electric vehicles.
[2020 Volvo S60 T8 Polestar Engineered review]
For now, Aurobay will be overseen by both Volvo and Geely as a joint venture, though all assets will eventually be handed over to Powertrain Engineering Sweden, a subsidiary of Volvo Cars.
Volvo currently has plans to be fully electric by 2030, with a 50/50 split between electric and hybrid cars by 2025.
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