Volvo Cars has signed a memorandum of understanding with China’s Geely Auto to become the exclusive importer and distributor of Lynk & Co electric vehicles in Europe, the company said on Monday.Volvo Cars, Geely Auto and Lynk & Co are all ultimately controlled by privately held Geely Holding.“Volvo Cars intends to use Volvo Cars retailers for the sale of Lynk & Co cars and use its sales and servicing system in relevant markets,” the Swedish automaker said in a statement. “The intention is to create synergies with Volvo Cars.”Geely Holding has a large portfolio of automotive brands that also includes Zeekr and Lotus. In the past couple of years, it has been gradually pivoting away from acquisitions, focusing on cost cuts and tighter integration, consolidating brands like Lynk & Co and Zeekr under Geely Auto.Volvo Cars said the new partnership will allow it to reach a wider audience without additional product investments.