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1/5, 1:50 PM (Source: TeleTrader)
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Daimler, Volvo discuss combustion engines co-op - report

German carmaker Daimler and Swedish luxury vehicles company Volvo Cars engaged in talks on cooperation, an unnamed Volvo executive told The Automobilwoche weekly on Sunday. The two companies aim to reduce the costs of developing and producing combustion engines for vehicles, according to the report.

Without revealing details, a Daimler spokesman told the magazine that the cooperation with Geely, a parent organization for Volvo Cars who owns a 10% share in the German company as well, is heading in the right direction.

In November, Daimler announced its plan to start with the CO2-neutral mobility policy, aiming to restructure the company and cut the costs.

Breaking the News / GA