Mercedes-Benz to build smart brand cars with Geely

Geely automobile holding

Mercedes-Benz is set to build smart-branded electric cars with Zhejiang Geely Holding Group in Xian, China from a base with a yearly capacity of around 150,000 vehicles, a senior official from its German parent Daimler AG stated on Saturday. Daimler’s Executive Vice President in China Leng Yan informed Reuters on the sidelines of China’s EV100 […]

Geely, Mercedes-Benz launch $780 million JV for electric cars

Geely automobile holding

Zhejiang Geely Holding Group and Mercedes-Benz on Wednesday stated they would each spend 2.7 billion yuan ($388.77 million) in a China-based venture to construct “premium and intelligent electrified” vehicles under the smart brand. The 50:50 venture has gained regulatory approval and will be based in the Chinese coastal city in Ningbo, the Chinese and German […]

Geely Automobile doubles profit on next-gen car sales increase

Geely automobile holding

China’s Geely Automobile Holding, whose unlisted parent controls Volvo, on Wednesday stated net profit more than doubled in last year, the most significant increase in 8 years as sales of its next-generation of automobiles overtook expectations. The Hangzhou-based automaker stated in a stock market filing that net profit for 2016 increased 126 percent to 5.1 […]

Geely’s Lynk plans 2019 US and Europe car launch, watches over Trump border tax

Geely

Geely Auto Holdings, the owner of Volvo cars, prepares to present its mid-priced Lynk & Co brand in the United States and Europe during the start of 2019, however alerted those plans could change if U.S. President Donald Trump imposes a border tax on imported vehicles, a senior company executive informed Reuters. Senior vice president […]

Volvo, Geely to make stronger ties, share small vehicle plant

Swedish automaker Volvo revealed on Wednesday a range of moves deepening cooperation with its Chinese parent Zhejiang Geely Holding Group – a tie-up that’s shaping up to reveal that China can mark a success of purchasing customer brand names. The two companies will quickly begin producing vehicles at a joint assembly plant in Taizhou, located […]