Volvo Cars, a unit of Zhejiang Geely Holding Group, will shutter its Stockholm office by March next year as part of efforts to simplify its corporate structure, according to a Monday news release.
About 450 employees in Stockholm working in software development, AI and digital customer experience will gradually relocate to the company's headquarters in Gothenburg, Sweden, Volvo said.
Zhejiang Geely also owns Geely Automobile (HKG:0175), making Volvo Cars and Geely Automobile sister companies.
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