Volvo Cars, controlled by China's Geely Automobile Holdings, inaugurated its new CNY420m (US$66m) R&D in Shanghai this week. The Volvo Car (China) R&D Centre will develop a new Compact Modular Architecture (CMA) to be shared by the next generation Volvo 40 and a forthcoming Geely compact model. It will be the first platform architecture to be shared by the two brands.