|Headquarters||Hangzhou, Zhejiang, China|
Li Shufu Chairman|
Yang Jian President
|Products||Automobiles, Engines, Transmission|
Zhejiang Geely Holding Group (
) is a holding company and parent of Geely Automobile Holdings Ltd (
) one of the biggest Chinese automobile manufacturers not to be a state-owned enterprise. Geely is also among the top ten Chinese automakers. It sells passenger vehicles under the Geely Auto, Volvo, Lynk & Co, PROTON, and Lotus brands and commercial vehicles under the London EV Company and Yuan Cheng New Energy Commercial Vehicle brands.
Sales of automobiles and motorcycles in China and several South American nations comprise the majority of its business and Geely has four brand names including its own. One of its models is named the Jingang or King Kong.
Geely has owned the Swedish passenger car maker Volvo since 2010, when it acquired the company from Ford. It completed the acquisition of British taxi maker The London Electric Vehicle Company in 2013. In June 2017, Geely also acquired 49.9% equity in Malaysian carmaker PROTON Holdings as well as a 51% majority stake in British sports carmaker Lotus Cars. The deal is seen as an important step for the Chinese carmaker in their quest to make inroads into the lucrative ASEAN region.
Geely Automobile Holdings Ltd (
Founding Geely in 1986 as a refrigerator-maker with money borrowed from family, Li Shufu transformed his company into a successful private automaker selling cheap products in tier-3 and 4 inland Chinese cities.
Geely started manufacturing motorcycles in 1994 after the purchase of a failing, state-run firm. Small van production began in 1998, and in 2001 Geely received state approval to manufacture automobiles.
Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, it was named as the preferred buyer of Volvo by the American automaker. A deal was reached in late March and completed in early August, 2010.
In December 2011, it was announced that Geely would begin selling Chinese-designed and -manufactured cars in the United Kingdom at the end of 2012, with the first model to go on sale being the Emgrand EC7. The company has also stated its intention to begin sales in Italy.
In May 2017, Geely confirmed plans to purchase a 51% controlling-stake in Lotus Cars from its owner, DRB-HICOM. Additionally, Geely plans to purchase a 49.9% stake in PROTON Holdings, to facilitate future export growth in right-hand drive markets.
In July 2017 the company purchased Terrafugia, an American maker of flying cars. In November 2017, Geely announced completion of the Terrafugia acquisition, including approval from all relevant regulators.
In December 2017, Geely invested € 3.25 billion into Swedish truck and construction company Volvo Group, a former parent company of Volvo Cars.  The deal has made the company the biggest shareholder with 8.2 % of stake and 15.6 % of voting rights.
Initial public offering
Geely had its IPO on the Hong Kong Stock Exchange in 2004.
Between 2006 and 2008 Geely expressed its desire to sell in the developed EU and United States markets, and in pursuit of this goal it presented at the 2005 Frankfurt Motor Show. It followed with a 2006 showing at the Detroit auto show.
Export to the EU and US has been postponed.
Headquartered in Hangzhou, Zhejiang, Geely has production bases in Lanzhou, Gansu (completed in 2006, Geely construction in the region continued as of August 2010 either for expanding the existing facility or for a new semi-complete knock-down factory); Xiangtan, Hunan; an unnamed location 40 minutes south of Shanghai; Jinan, Shandong; and at Linhai, Luqiao, and Ningbo, Zhejiang.
At least four overseas factories assemble Geely models probably from semi-complete or complete knock-down kits. Such facilities are or have been located in Indonesia, (some of its production has been imported back to China), Sri Lanka (in collaboration with Micro Cars), Malaysia, Russia, (assembly is controlled by local firm Derways), and Ukraine. These locations are not necessarily affiliated with or owned by Geely.
Foreign acquisitions and joint ventures
Geely has made several major foreign acquisitions and participates in a joint venture.
Manganese Bronze joint venture
Establishing a joint venture with this British maker of London Black Cabs in 2007, Geely purchased in 2013 Manganese Bronze Holdings, initially trading as The London Taxi Company, and subsequently as London EV Company.
The joint venture, Shanghai LTI Automobile Components Co Ltd, made the TX4, a licensed London Black Cab, in Fengjing, Shanghai, and exported semi-complete knock-down kits for assembly in the UK.
Drivetrain Systems International
Purchase of Volvo Cars
Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, Geely was named as the preferred buyer of Volvo by the American automaker. A deal was reached in late March and completed in early August, 2010.
Volvo continues to operate independent of its new owners, but Geely wants to make Volvo-branded cars in China something Volvo (but not the Chinese State) has agreed to, desires synergy and nowadays communicates with the company via a special, twice-yearly meeting.
) means "auspicious" or "lucky" in Mandarin Chinese.
Many of Geely's early products were based on the Xiali, a variant of the 1987 Daihatsu Charade. Models such as the Haoqing (豪情) (five-door), Merrie (美日) (five-door), Uliou (优利欧) (four-door), and Urban Nanny (van and pick-up truck) have Charade bases, but feature a more prominent chromed grille.
Geely's medium to high-end luxury brand, Emgrand (
) was launched in 2009.
) emulates classic, British style and its model line includes a TX4 sold on the Chinese market. Some of its cars were built by Geely subsidiary Shanghai LTI. As Geely fully acquired The London Taxi Company in 2013, the emblem of Englon also became the new logo of The London Taxi Company.
Considered a "goofy" word by some native English speakers, Gleagle (
Gleagle cars, such as the Gleagle Panda, are available for sale on the Internet in China via the Taobao Mall, a popular e-commerce site. While Geely will deliver the car to your address, buying one of the Panda models on offer does necessitate a trip to a traditional dealer.
The brand is also developing a $2,250 model that may replace the Tata Nano as the world's cheapest car.
- Main article: Shanghai Maple
Geely refers to its dealer network as 4S stores and sells some models online, too.
In Peru, Uruguay and Venezuela, Geely sells automobiles and motorcycles. Geely has also entered the Bangladeshi, Cuban, Indonesia, New Zealand, Pakistani, Romanian, Turkish and South African car markets. These exports may be in the form of complete knock-down kits.
- Main article: List of Geely models
Geely makes SUVs and passenger cars.
Like many private Chinese automakers, some Geely models are criticised for too-closely resembling those of famous-name foreign manufacturers.
An unsuccessful lawsuit was brought against the company in the early 2000s by Toyota, which claimed Geely had "implied in ads that some of the parts [used in Geely vehicles] were made by Toyota". Geely may also have previously used a logo that resembled that of Toyota.
Geely is, alongside many of its counterparts, seeking to sell electric vehicles in the future. China subsidies oil, and some Chinese automakers see opportunities in less mature electric vehicles because Western companies have yet to develop much of a lead in the technology.
Electric Black Cabs
Geely is involved in determining the feasibility of developing electric-powered London Black Cabs. The maker of these taxis, which Geely holds part ownership of and a joint venture with, Manganese Bronze, says it has held talks with UK government officials about this and has signed a research and development agreement with Tanfield Group.
A possible upcoming electric model, the Nanoq could be developed in the future with cooperation from a Danish firm, Lynx.
- Main article: List of Geely motorcycles
Geely manufactures a number of motor scooters and motorcycles from 50 to 250 cc displacement.
In 2010 the Geely LC scored 45.3 in C-NCAP crash tests, making it China's first locally researched and developed compact car to be awarded a 5-star rating, and it is subsequently the safest Chinese hatchback as of 2011.
|This page uses some content from Wikipedia. The original article was at Zhejiang Geely Holding Group. The list of authors can be seen in the page history. As with Tractor & Construction Plant Wiki, the text of Wikipedia is available under the Creative Commons by Attribution License and/or GNU Free Documentation License. Please check page history for when the original article was copied to Wikia|
- Our Business Geely official site
- About Geely Geely official site Cite error: Invalid
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- Shedding its skin globaltimes.cn, December 31 2010
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- Geely Automobiles Al Hashar & Company. Oman.
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- Milestones Geely official site
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- For 2007 joint venture, see Tracey Tong, Angel YY Yeung (7 September 2007). "Geely Automobile Holdings Limited Announced Interim Results for the Six Months Ended 30 June 2007 Net Profit Declined by 32% to HKD82 million". Jovian Communications. Geely. Retrieved on 28 February 2015.
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- UPDATE 1-Geely may build as many as 3 Volvo plants in China reuters.com, Mon Sep 13, 2010 11:29pm EDT
- 3 domestic Volvo plants ok'd globaltimes.cn, December 13 2010
- Volvo, Geely set up Dialogue & Cooperation Committee globaltimes.cn, November 08 2010
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- Geely to launch Englon brand globaltime.cn, April 14 2010
- Englon brand to get major boost in 2011 chinacartimes.com, November 29, 2010
- The first user of Shanghai Englon TX4 came out into view in Shanghai Auto Show Geely official site
- "Geely Releases All-New Englon SC5-RV Subcompact", ChinaAutoWeb.com.
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- Notes From the Trademark World: “Gleagle”? Really? chinahearsay.com, 5/25/10
- Geely goes Logo Loco chinacartimes.com, April 25, 2009
- Beijing 2010: Geely Gleagle GS autoblog.com, Apr 24th 2010
- Short Torque chinadaily.com.cn, 2010-12-06
- Geely nets online store chinadaily.com.cn, 2010-12-08
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- Geely Prevails in Cuban Streets Geely Official Site, Feb. 6, 2010
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- Mr. Heyi Xu，the president of Beijing Automotive Industry Holding Co., Ltd. delivered a speech at the 2009 China (Changchun) International Automobile Forum BAIC Official Site, 2009-07-20
- Big bet on better battery-run cars chinadaily.com.cn, 2011-01-03
- Geely drops MBH buy globaltimes.cn, August 16 2010
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- "/ UK - Geely aims to electrify black cabs". Ft.com (2008-10-20). Retrieved on 2009-10-19.
- Geely Nanoq electric car set for Europe sale globaltimes.cn, January 11 2010
- The home team: Indigenous carmakers are working their way up. Economist.com, Nov 13th 2008
- "Geely CK Gets Zero-Star Latin-NCAP Rating", ChinaAutoWeb.com.
- US Geely's growth: Appliances to autos in 13 years chinadaily.com.cn, 2010-05-04
- "Five Star in Collision Test: Geely Panda Appraised as the safest Minicar in China". Geely International (2010-01-09). Retrieved on 2011-01-22.
- Auto Special: Safety test proves Geely has the right path to improved performance and competitiveness chinadaily.com.cn, 2011-01-14