Li Shufu, chairman of Zhejiang Geely Holding Group of Geely Automobile's parent company, said at a CPPCC meeting in Beijing that the group is currently researching and developing new energy vehicles, but it will not be launched within one to two years.
For Geely's previous announcement, “Geely is expected to sign a share purchase agreement with Ford before March 31, 2010; after it is approved by relevant regulatory agencies, it is expected to complete the transaction by June 30th.†Li Shufu emphasized to reporters that the news was “ Accurate and responsible," the rest of the rumors are unpredictable.
Geely Automobile's sales are very good this year and there is a shortage of supply. According to figures previously announced by Geely Automobile, its car sales increased more than doubled to 43,777 units in January.
Geely Acquires Zhongyu Automobile Enters Commercial Vehicle and Special Vehicle Market Formally
Geely Holding Group signed an agreement with Zhongyu Automobile Co., Ltd., Geely Group acquired Zhongyu Automotive Hangzhou Production Base in the form of a complete acquisition and entered the commercial vehicle and special vehicle market.
Zhongyu Motors mainly produces mid- to high-end commercial vehicles and special-purpose vehicles, and is also the only refitted manufacturer authorized by DaimlerChrysler in the Asia-Pacific region to produce high-end commercial vehicles based on the Mercedes-Benz and Weiyi commercial vehicles. Li Shufu, chairman of Geely Group, said that Zhongyu has the right to modify Mercedes-Benz’s models, and Geely’s high-end models can also be modified by Zhongyu.
In the past year or two, Geely has frequently taken out corporate mergers and acquisitions, aiming at areas where it is lacking, and has quickly realized the entire product line of high-medium-low plus special vehicles. DSI's automatic transmission technology, Volvo's safety technology and Zhongyu's technical strength in the field of commercial vehicles and special vehicles are all important supplements to Geely's existing technology system. However, "a large share of the stalls, the family is difficult", the next step is how to activate the company, will be a huge challenge for Geely.
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