Geely ditches Volvo merger but still needs its partner to go global

China’s largest independent automaker already owns Volvo and operates the Swedish firm as a separate company. But about a year ago, Geely (GELYF) said that it was considering how to bring the two brands together — a merger that would have created the first Chinese automaker with true global reach. Those plans are now off. Geely announced late Wednesday that the two companies will keep their independent corporate structures, though they will partner on electric and autonomous driving technology. But the decision does not mean that Geely is retreating from the global stage. In fact, it could signify the opposite.

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