New infrastructure to develop electric vehicles has been created by the owner of Volvo, Geely, which it plans to sell to rival firms.
The Chinese business is in talks with other manufacturers, according to the Financial Times, including Mercedes-Benz marque Daimler, which Geely has a stake in.
The company is hoping to be one of several firms with battery systems that will dominate the global supply chain within the next decade.
Its new architecture offers ranges in excess of 430 miles and can be used to produce any size of vehicle. The firm is using its network of research centres across China, Germany, Sweden and the UK on development, resulting in a 40% reduction in costs.
Chairman of Geely, Li Shufu, said: “Our development of this transformative electric vehicle architecture marks the biggest leap forward at Geely in more than a decade.”
