Geely gears up for future
(China Daily)

Privately owned car manufacturer Geely on the Chinese mainland and Guorun Holdings Ltd, its partner in the Hong Kong Special Administrative Region, have clinched two deals to form a new joint venture and to add extra investment to their existing joint venture.

Guorun's wholly-owned subsidiary, Value Century, and Shanghai Maple Automobile -- one of Geely's three manufacturing bases, will set up an auto joint venture in China's major economic powerhouse of Shanghai, according to a statement made to China Daily from the two parent companies.

The total investment in the joint venture, named Maple Guorun Automobile, will be 525 million yuan (US$63.25 million), the statement said.

Value Century and Shanghai Maple control 46.8 and 53.2 per cent stakes of the joint venture respectively.

The joint venture will produce Geely's own-brand Gale Wind and M203 economy cars.

Geely, whose headquarters is located in Hangzhou, capital of East China's Zhejiang Province, plans to enlarge the joint venture's annual production capacity to 300,000 units by 2010 from its current level of 40,000 units.

Guorun is a Hong Kong-listed investment firm.

Centurion Industries, another wholly-owned affiliate of Guorun, has also agreed with Geely to increase the investment in their existing joint venture in Ningbo, a port city in Zhejiang Province, to 1.127 billion yuan (US$135.78 million) from 200 million yuan (US$24 million), according to the statement.

The equity structure of the joint venture, Zhejiang Geely Guorun, will remain unchanged with Geely holding 53.2 per cent and Centurion Industries retaining 46.8 per cent.

Zhejiang Geely Guorun was set up in May this year.

The new investment will be used to produce Geely's self-developed Beauty Leopard, the first Chinese-made sports car, and engines and gearboxes.

The Beauty Leopard will be launched on the market in December this year.

The joint venture is making Geely's Merrie and Ulion economy cars.

In addition, the Ningbo-based joint venture has signed a memorandum of understanding with Primustech Ventures -- another investment firm in Hong Kong -- to co-operate in automobile sales and after-sales services, according to the statement.

Primustech has also entered into a memorandum of understanding with Ningbo Mingtai Automobile Sales and Rental Co Ltd, which is controlled by Geely, to build a network of full service in automobile sales, repair, maintenance, renting and financing.

The joint venture will provide products to the expected network, the statement said.

Geely, owned by Li Shufu, one of the richest men in China, is one of a small number of Chinese carmakers mainly depending on developing its own models.

The vast majority of China's major automakers are assembling foreign models of their joint venture partners -- such as Germany's Volkswagen, US General Motors, French Citroen, and the Japanese firms Toyota and Honda.

Geely has made a five-year plan (2003-07) to sell a total of 1 million cars.

The company also plans to introduce 14 new self-developed models during the period and to develop 1.0, 1.3, 1.5, 1.6 and 1.8-litre engines.

Geely has clinched deals with a host of companies from Germany, Italy and South Korea to co-operate in car, engine and spare parts design and production.

Besides the two joint ventures in Shanghai and Ningbo, Geely has another manufacturing base in Taizhou, Zhejiang Province, which is producing the Haoqing compact car.

how many cars have they already sold in the first 15% of the year

That's good ,but Geely has to improve it's quality more!

you dont seem like a geely fan...are you a chery fan?

compared with geely,chery works better in quality and marketing and more practical... :o

another CHERY FAN here :p

you too :D

this site seems to either have nanjing of chery fans

???????????

The Geely Haixuan was created by a team of women and includes a brake pedal made to handle a stiletto heel.

Anita Lienert / Special to The Detroit News

Chinese automakers aren't wasting any time in designing cars that appeal to women.

Geely Automobile earlier this month unveiled the Haixuan, billed as China's "first car to tempt female buyers." The Haixuan was created by an all-female team and has a special brake pedal with a cutout to accommodate a stiletto heel.

It all sounds a little gimmicky, but the smartest global automakers are going to great lengths to win over the women's market.

In Detroit, Mary Sipes, General Motors' vehicle line director for full-size SUVs, had an unusual assignment for one of her male engineers as the 2007 Cadillac Escalade, Chevrolet Tahoe and GMC Yukon were being developed.

The engineer was told to go to Payless Shoes and buy a pair of size 12 high heels. He did just that, picking out a cream-colored pair.

It was all for a good cause: the "Mr. Mom" competition in the automaker's internal "Olympics" held at the GM Proving Grounds in Milford.

The all-male contestants in that particular event had to wear a skirt, heels, and fake fingernails. They were given a baby stroller and a baby doll. Before them stood a row of Escalades, Tahoes and Yukons. They had to wheel the baby stroller up to the vehicle, unlock it, load the baby in a car seat without "hurting" it and jump into the driver's seat without ripping the skirt or a nail.

All of these "mommy exercises" have resulted in some practical improvements.

Sipes says one step forward is a rear-seat DVD entertainment system that can be loaded from the instrument panel. Some SUVs, like the 2007 Mercedes-Benz GL-Class, have awkward systems in such odd locations as the bottom of the right passenger's seat in the second row.

"Moms want to have control over that, especially if the kids are in child seats," she said. "With earlier systems, moms had to reach back to get the movie going."

Escalade buyers who opt for rear-seat entertainment can now load DVDs from a slot on the dashboard -- a feature I suspect will be copied by the Chinese before too long.

http://www.detnews.com/apps/pbcs.dll/article?AID=/20060329/AUTO03/603290316/1149

I cant find any pics of the car...

Geely sold 135,000 cars in 2005 and is on pace to sell 200,000 cars this year. Which model was their best selling model.

How many 2 door coupes did they sell

http://www.cnwh.com/album/uploadPic/16042/200622378359426.jpg

http://www.cnwh.com/album/uploadPic/16042/200622378359425.jpg

Chinese car maker Geely Automobile Holdings Ltd. said on Friday March sales jumped 36.2 percent from the same month last year. Geely said in a statement that its two associates sold a total of 16,788 vehicles in March.
For the first quarter, the two associates sold 48,438 units, a 66.9 percent increase from a year earlier.
Geely said in a statement the March sales figure "suggests that the group is well on track to achieve its full year sales volume target."
source: crienglish.com

How many did Chery sell in March?

Geely will launch two mid-sized sedans in 2006, to enter the mid and high-end segments. Geely has independently developed its 1.8L engines, to be powered the two new models, both the FC-1 and the LG-1. The LG-1 will be introduced to the China market in the first half of 2006 and the FC-1 later.

Any pictures of their cars and engines. What kind of engines did they use on their previous cars like the Geely Meerie the mercedes benz lookalike.

GEELY Automobile Holdings Ltd agreed to increase the registered capital of its two joint ventures in China to fund production expansion and the development of a mid- to high-end sedan.

Hong Kong-listed Geely said it plans to increase the registered capital of Zhejiang Geely Automobile Co Ltd from US$82 million to US$176.2 million. Shanghai Maple Automobile Co Ltd's registered capital will jump to US$99.7 million from US$51.7 million, according to its statement to the Hong Kong Stock Exchange yesterday.

Geely's wholly-owned unit Centurion Industries Ltd and Zhejiang Geely Merrie Automobile Co Ltd will inject US$43.7 million and US$49.71 million respectively into Zhejiang Geely with share holdings unchanged.

Zhejiang Geely, China's largest private auotmaker, said it would use 1.1 billion yuan (US$137 million) to help production expansion and purchase components. Another 68 million yuan will used to develop more mid-class sedans.

Geely said it is optimistic about market demand for fuel efficient mid- to high-class sedans in the next 10 years in China, which prompted the move to increase production capacity and lower operation costs.

Its registered capital is expected to increase to US$231.01 million in August to fund research and development activities and the purchase of new machinery, according to David Cheung, secretary of Geely.

Meanwhile, another wholly-owned Geely unit, Value Century Group Ltd, also agreed to contribute US$22.5 million to Shanghai Maple Automobile Co Ltd.

Shanghai Maple plans to spend 184 million yuan to boost its annual capacity to 300,000 units after building its second manufacturing plant.

Jin Jing
2006-08-09
GEELY Automobile Co Ltd began mass production yesterday of the country's first domestically developed engine using high-power valve technology, a key step on the road toward a fully Chinese-made auto.

Geely, which specializes in producing small vehicles and is China's leading private carmaker, has invested more than 100 million yuan (US$12.5 million) to develop the new engine. It is the first domestic automaker to apply the highly advanced CVVT - continuously variable valve timing - technology, the company said.

The 1.8-liter aluminum engine, which meets Euro 3 emission standard, will be able to produce a 140 horsepower, equaling Toyota's new CVVT engine, according to Geely.

Geely's Ningbo plant in Zhejiang Province will be in charge of engine production and is expected to turn out 50,000 units a year.

Zhejiang-based Geely said it has no immediate plans for exports.

The advanced engine will be used to power Geely's upcoming FC-1 sedan as well as its Formula One cars, helping it to break into the mid- to high-end car segments.

"The advance self-developed engine could clear the way for Geely to offer more price-competitive models and save a lot on costs," said Zhang Xin, an analyst at Guotai Jun'an Securities Co Ltd.

Chinese carmakers, which must spend heavily to buy engines from foreign rivals, have traditionally lagged in making core auto components.

The lack of ability in this area has been the main hurdle for Chinese car producers to develop autos using their own technology, which is a target as outlined in the central governments latest five-year plan.

An increasing number of Chinese automakers, including Brilliance China Automotive Holding Ltd and Chery Automobile Co Ltd, have stepped up efforts to make their own engines - and their own cars.

Brilliance China, the domestic partner of BMW, used part of its HK$1.5 billion (US$193 million) bond sale to produce its own 1.8-liter turbocharged engine, which generates 10 percent more power and consumes less fuel than current engines. And Chery Automobile Corp teamed up with an Austrian engine design company to jointly develop 18 aluminum gasoline and diesel engines.

http://www.shanghaidaily.com/art/2006/08/09/288579/Geely_Auto_rolls_a_pioneering_engine_off_its_assem bly_line.htm

great , finaly some news from geely , Altho I think Chery is the only company worth respect out there .

Best news for Chinese car industry.

Pictures of this engine

http://image2.sina.com.cn/qc/photo/geelyCCVTys/U1478P33T148D137134F2100DT20060808113747.jpg

http://image2.sina.com.cn/qc/photo/geelycvvte/U1406P33T148D136874F2100DT20060806135205.jpg

Wow, Geely is really making some progress. I hope other Chinese companies can follow their lead and develop their own advanced engines, and reduce reliance on foreign suppliers for advanced components of their cars.

I want to buy the FC 1 with the new CVVT engine. What engine did the FC1 use before. Is the new engine going into the 07 FC1 and will it cost more than the old engine.

I hope this move by geely, motivates chery and other chinese car manufacturers

... What engine did the FC1 use before......

Hazik I'm curious too about the FC1 engine and other engines used by Geely and Maple. So much has been said about Chery and Lifan's engine development but not others like Geely. This seems like a big leap for them.

As far as I know early on Geely purchased engines from the Daihatsu-Tianjin joint venture, ie Toyota made. Then it began making the same engines on it's own, apparently clashing in court with Toyota, and finally getting a license to produce them. I believe most were the 8A-FE a small 4 cylinder.

Maybe someone else can shed some light on this....

Actually engines are easy, it's the automatic transmissions that are tough to produce independently

Good news but how reliable would this engine be in the longterm since it wasn't designed by an outside engineering firm? Chery and Brilliance had experienced engineering firms design their engines so I don't know about this. I don't mean this as a putdown but its just I don't believe that Geely would have the proper experience and knowhow to do this correctly.

Sep. 1, 2006 (China Knowledge) - Geely Automobile Holdings Ltd., a unit of the mainland's biggest privately- owned automaker, intends to increase its total capacity by 15% to 400,000 units by the end of 2007.

Geely Executive Director Lawrence Ang Siu-lun told a media briefing Thursday that the boost in production capacity will follow the completion of new production plants.

Ang believes that overall productions cost will also be reduced by as much as 10% when the production capacity peaks.

The Zhejiang-based company sold 8,347 vehicles in July - the weakest month this year - representing a 40% decline from June. July was the first month this year in which sales dipped below 10,000 units.

Ang was quoted in Hong Kong newspaper The Standard as saying: “I expect that the operating environment in China will remain tough in the next three months.” He also said that China's car industry has “hit a trough in the cycle".

Overinvestment in the fast-growing Chinese economy has resulted in Mainland automakers seeing lower profit growth. Therefore, the automakers are venturing overseas.

Geely is among a number of Chinese automakers like Chery and Great Wall that are exporting cars overseas. According to the Automobile Branch of the China Chamber of Commerce, China exported 34,506 sedans in the first half of 2006, up by 259.5% from the same period last year.

Geely has also indicated interest in new export markets such as the Middle East in order to boost revenues. The company exported 7,000 vehicles in 2005, mainly to Southeast Asia, and is aiming for 10,000 units this year.

The mainland's largest private auto maker Geely saw sales of its two joint ventures rise by 19.8 % year-on-year to 12,333 units in August.

"The sales beat management's estimate, because we previously thought August was a traditionally off-season for auto sales," said a spokesman yesterday.

From January to August, sales surged 48.4 % to 112,600 units, realizing 62.6 % of Geely's full-year target of 180,000.

http://www.consumerist.com/consumer/images/geely.jpg

wow 48% increase is a lot

Do you have a link for this? Thanks

Geely Auto posts gains after selling pricier cars
Jin Jing
2006-09-26
GEELY Automobile Holdings Ltd's profit soared nearly 200 percent to HK$123.7 million (US$15.8 million) in the year's first half, fueled by a sales increase in its higher-priced models, the company said yesterday.

The Hong Kong-listed company said sales revenue rose 93 percent on year to HK$69.3 million from January through June.

Two major subsidiaries, Shanghai Maple and Zhejiang Geely, were the big contributors.

Earnings also benefited from strong demand for a production line-up that moved upscale.

Shanghai Maple and Zhejiang-based Geely Automobile Co Ltd, China's leading private carmakers, netted combined sales revenue of HK$3.29 billion for the first six months. They sold 91,953 vehicles in the period, a 69 percent increase from a year ago.

Profit at the two carmakers advanced 190 percent to HK$294 million for the first half.

Geely, 46.8 percent owned by Geely Group, has rolled out more higher-priced models such as the Free Cruiser and King Kong sedans.

Half-year sales of the higher-priced cars accounted for 56 percent of the total, up from 38 percent from the same period last year.

Geely now holds a 4.8 percent share of China's passenger car market. The company aims to reach 5 percent by the end of this year.

As a whole, the country's carmakers experienced a slight drop in profit growth in July, according to the Ministry of Commerce.

China's auto industry manufacturers generated 41.7 billion yuan (US$5.2 billion) in profit for the first seven months, up 52.5 percent compared with the same period last year. The growth was 7 percentage points slower than the first half.

Sales revenue amonted to 848 billion yuan during the first seven months, up 29 percent from a year earlier and 1.2 percentage points below the first-half figure
http://www1.shanghaidaily.com/art/2006/09/25/292959/Geely_Auto_posts_gains_after_selling_pricier_cars. htm

FC-1 will be on sale end of this month. costs is 100,000 rmb

http://www.haahoo.com/image20010518/72903152839426048/39678.jpg

http://www.pakwheels.com/images/forums/2006/7/10/geely_2_I8G_PakWheels(com).jpg

http://www.haahoo.com/image20010518/72903152839426048/39679.jpg

Monday September 18, 3:07 PM
UPDATE 1-Chinese car maker Geely jumps after H1 net triples
(Adds analysts comments, updates stock performance)
By Alison Leung

HONG KONG, Sept 18 (Reuters) - Shares in Chinese car maker Geely Automobile Holdings Ltd. surged on Monday after topping rivals with a tripling in first-half earnings and unveiling plans to double capacity in two years, but a senior executive warned that margins could dwindle in the second half.

Geely, which makes some of China's cheapest cars, will launch a 100,000 yuan ($13,600), 1.8-litre "FC1" sedan by the end of the month, its latest salvo to grab market share in the world's third-largest vehicle arena.

The FC1 will be an advanced version of the "Free Cruiser", developed with South Korea's Daewoo International last year.

"We think our new model is comparable to South Korean and Japanese cars, but much will depend on the market's reception," executive director Lawrence Ang told Reuters in a telephone interview on Monday.

Shares of Geely ended Monday morning up 3.45 percent at HK$0.90, boosted by a 196 percent rise in interim net profit to HK$121 million (US$15.55 million).

But the smallest Hong Kong-listed car maker was cautious on the market's outlook in the second half as a price war intensified.

"We're on high alert. Our net profit margin in the first half was 8 percent and that could easily be eroded," Ang said.

Geely earlier this month cut prices on its "Free Cruiser" series by 1,000 yuan to 5,000 yuan, or an average of just below 5 percent, keeping pace with rivals' moves.

This followed a price cut in April in Geely's other models of between 4 percent and 10 percent.

However, analysts say Geely shares should benefit from falling oil and raw material prices, which could boost the firm's sales and reduce costs.

The Zhejiang-based auto maker said on Friday it planned to more than double its annual capacity to 650,000 cars in two years from 300,000 units by the end of 2006.

Geely's parent, controlled by founder and chairman Li Shufu, is investing an estimated 3 billion yuan to build four new plants with a total initial capacity of 300,000 units.

"Geely will buy stakes in these plants from the parent when construction is completed and ready for production," Ang said.

The company's two 46.8 percent-owned car maker units sold a total of 91,953 vehicles in the first half, up 60 percent from the same period last year -- satisfying 51 percent of an annual sales target of 180,000 units.

In the first eight months, Geely sold 48 percent more vehicles from a year earlier, or 112,633 units.

Geely also maintained an export target of 10,000 cars for 2006 after selling 4,000 abroad in the first half.

"We are preparing for that and significant exports should start in 2010," Ang added.

The stock has risen more than 180 percent this year,
outpacing a near 30 percent gain on the index for Chinese
companies listed in Hong Kong .
Some Hong Kong-listed Mkt cap p/e H1 net stock change
Chinese car maker (US$mln) 2006 pct yr-to-date
Dongfeng 3,322 11.1 +69 +56 pct
Denway 1,580 9.6 +30+11 pct
Brilliance 561 23.8 n/a +4 pct
Geely 464 21.8 +196+177 pct
Index for Chinese firms listed in Hong Kong +31 pct
Source: Reuters Estimates'

emm , no , this is must be Geelys best offering yet , but still , it didn't convince me much , its just looks like a modified CK or shall we say an updated/upgraded version , and of course stll a Corrolla wanna be :)

What is the length and width of this one , simliar to the CK ?

For some reason the Headlights just dont match the car .. dunno why !

I think it has a different chassis than CK.

If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.

:thumb:

If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.


If it's brought to the US it'll sell for alot more than $13,000. When you add shipping costs + dealer's cut + taxes it might go for as high as $18,000.

What happened to the Chinese advantage of cheap labor??? Then how is ANY Chinese car going to compete in the US?

I don't think your guestimate on price is right. All cars sales for more in China for some reason.

Geely Automobiles Holdings Ltd. (0175.HK: Quote, Profile, Research) said it would pay 181 million yuan ($23 million) for a 46.8 percent stake in two Chinese joint ventures to make sedan related components and provide after-sales service. [nPEK218383]

Beijing (ANTARA News/Asia Pulse) - Geely Automobile Co. is hoping to double its overseas sales this year. The Zhejiang-based private automaker is aiming to export 33,000 motor vehicles in 2007, up from 15,000 units last year, said Li Shufu, chairman of the company.

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.

The firm, which began exports in 2003, has set up 128 shops overseas and exported 30,000 units to more than 40 countries. Its major markets are the Middle East, Southeast Asia and Eastern Europe.

Beijing (ANTARA News/Asia Pulse) -

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.


Li will need more than a fancy logo to bolster image in the international market:rolleyes:

Agreed :D

I think a new slogan would be more use:
http://www.***************************************.com/2007/01/14/help-geely-out-design-them-a-new-logo/

is it a safty car? just worry about safty, other is quite OK.

good, they should focus internally before external:thumb:


SHANGHAI, China -- Geely Automobile said Tuesday it has set up two joint ventures with a sister company to build and sell economy cars in inland provinces where the labor costs are low and sales are just beginning to take off.
In a notice to the Hong Kong Stock Exchange, the Chinese automaker said the ventures were planned to tap continued strong growth in demand for "fuel-efficient and easy-to-maintain economy sedans."
Geely Automobile, based in Zhejiang province near Shanghai, said it plans to spend $75 million on each of the ventures, to be built in central China's Hunan province and in Gansu, in the northwest.
The Hunan venture will be 53.19 percent owned by Zhejiang Haoqing, a Geely subsidiary, and 46.81 percent owned by Centurion Industries Ltd., a holding company registered in the British Virgin Islands that is wholly owned by Geely.
The Gansu venture, to be based near the provincial capital of Lanzhou, will be 53.19 percent held by Zhejiang Geely Merrie and 46.81 percent by Centurion, it said. All companies involved are controlled by Geely's chairman and founder Li Shufu.
Geely has vowed to overcome technical hurdles and the negative image of Chinese manufacturing to begin selling a low-priced family sedan in the United States by 2008. While trying to expand overseas, it also is focusing on the fastest growing segment of the domestic market -- affordable economy cars.
The company, whose name denotes good luck in Chinese, was founded in 1986 and is one of China's few privately held auto companies.

This article leaves out a third party's share of this joint venture. Previous reports have indicated that the Gansu Provincial government will hold 42.5% of this venture.

These ventures will be a good opportunity for Geely to spread its sales network where it wasn't welcome before. Provincialism in China has systematically kept out companies like Geely and Brilliance from the west and southwest.

Geely has earned a good guy image due to its heavy investment in children's education. Now in Lanzhou, the 10th most polluted city in the world (according to Xinhuanet), Geely will have a chance to do its part as a model "green car" company. Honda and Toyota are already making impressive strides in their adopted home town locations by the control of waste water/liquids and by the use of water-based coatings.

At the start it looks like the Freedom Cruiser will be the first product turned out at the new Lanzhou factory.

HONG KONG: Geely Automobile Holdings Ltd plans to almost double its slice of four car plants worth nearly US$500mil and set up a new one in central China, as the ambitious company expands while streamlining a convoluted structure.

Executive director Lawrence Ang said yesterday the privately run firm intended to increase its stake to 90% in the quartet of plants, which carried a combined net asset value of HK$3.65bil (US$467mil) as of the end of 2006.

Its unlisted parent of the same name would own the remainder. Geely would issue new shares to its parent corporation to fund the purchase, Ang said.

Buying most of the factories would allow the aggressively expanding Chinese firm, which is in discussions to set up assembly plants across the Americas, Europe and Africa, to consolidate profits at those plants into its bottom line.

Geely, which with local rivals Chery Automobile Co and Dongfeng is expanding in the world's second largest vehicle market while hoping to eventually tap markets abroad, now owns 46.8% of the four factories.

The company, which sells some of the country's cheapest cars under the Geely and Maple brands, plans to double capacity next year to some 600,000 vehicles annually. It hopes to be able to crank out a million cars a year by 2010.

Geely expects to sell 240,000 cars this year, more than a third more than last year's 175,635 units.

In addition to the stake expansions, Geely will own 90% of a plant now being built in central China. – Reuters

Geely sputters over stock deal
By Clare Cheung 2007-7-17


SHARES of Geely Automobile Holdings Ltd, the listed unit of China's largest privately owned car maker, fell yesterday after it agreed to sell stock to its controlling shareholder at a discount to buy stakes in car making ventures.

The stock dropped 6.9 percent to HK$1.36 (17 US cents) in Hong Kong after earlier plunging as much as 11 percent. The shares resumed trading yesterday after being halted last Wednesday before an announcement.

Geely will sell 1.29 billion new shares at HK$1.25 apiece to Li Shufu to buy stakes in five ventures, it said on Friday. That's a 14-percent discount to the closing price last Wednesday.

"The existing shareholders may be hurt due to dilution effect on earnings, but the deal is favorable to them because the purchase price is quite cheap," Alex Tam, a Hong Kong-based analyst at CSC Securities Ltd, told Bloomberg News. "I think it's getting a good balance here."

Geely, based in Hong Kong, makes Free Cruiser compact cars and other models through four ventures, all of which are indirectly controlled by Li. The fifth is due to begin production by the end of the year, Executive Director Lawrence Ang said on Friday.

The auto maker will pay HK$1.61 billion to Li to raise its stakes in the ventures to 91 percent from 46.8 percent.

Shanghai Daily

geely doesnt seem like smnartest company

SHANGHAI - August 3, 2007: Geely Automobile Holdings Ltd, China's largest privately-owned carmaker, plans to cut its spare parts suppliers in China by over 50% in the near future. Meanwhile the company also set up a management team to take charge of the company's spare parts purchase procedures, spare parts inventory as well as logistic support.

"Geely has unveiled plans to centralize its purchase operations while it intends to buyout most stakes from its four affiliated plants in China," said Geely's vice president Wang Ziliang.

The management team will first work out a set of new polices regarding the purchase of spare parts and begins to utilize a computer-based information system in spare parts management, Wang said.

Secondly, Geely will streamline a sophisticated auto parts supplying structure by reducing the number of its auto parts suppliers. Geely will reduce its spare parts suppliers to 300 -500 by the end of 2007. The company now has 1000 auto parts suppliers.

"The primary goal behind this move is to improve our product quality," Wang explained. "Our second goal is to reduce costs."

Geely hopes to cast off its old image as a cheap, low-end auto producer. It hopes to follow practices of international auto giants while trying to compete with them globally, Wang said.

Earlier last month, Geely unveiled plans to buyout its four affiliated plants in China. The net asset value of affiliated plants stood at US$467 million as of the end of 2006.

Geely sold 204,000 cars last year and plans to triple it output capacity next year to some 600,000 vehicles annually. The company hopes to be able to turn out a million cars annually by 2010.

Xinhua)
Updated: 2007-08-12 09:30


Geely Automobile, a major private carmaker in China, sold 11,236 cars in July, a growth of 34.6 percent over the same month of last year, company sources said on Saturday.

However, the company's sales in the first seven months of this year went down 4.7 percent to 95,623 cars, which accounted for only 40 percent of its annual sales target of 240,000.
The sources said the Hong Kong-listed company received a record of nearly 30,000 orders in June, but the delivery had to be postponed partly because of the limited production capacity of its workshops in Ningbo, East China's Zhejiang Province.

The company has to speed up production in the rest months as the demand for some models is expected to increase, company sources said, adding the Ningbo production facilities will be expanded.

even though we here all the crap about geely over and over and they cant even sell out of china, they seem to be growing good in china
:thumb:

Geely to add five new cars a year
(China Daily/Agencies)
Updated: 2008-01-16 09:29


Geely Holdings Group Co, the Chinese maker of $5,000 compacts, will add five new models a year, including sedans, until 2010 because of faster-growing demand for larger cars in the world's second largest auto market.

The carmaker will also raise its annual production capacity in China to 1.7 million vehicles by 2015, Vice-President Zhao Fuquan said at the Detroit motor show yesterday. China's largest privately controlled carmaker can currently make 300,000 cars a year, according to its website.

Geely plans to add larger models and to boost sales overseas as Chinese drivers, enriched by stock market gains, shun compacts in favor of more expensive cars. The company's Hong Kong-listed unit missed its vehicle sales target in 2007 for at least the second year in a row.
The carmaker is planning to open plants in Europe and southern Africa, Zhao said at the North American International Automobile Show. He declined to provide more details. Earlier this week, the company said it will set up an assembly venture in Mexico to serve markets in the Americas, including the US.

Geely's new models this year will include a five-door hatchback KingKong compact and a 1.8-liter China Dragon sports car based on its Beauty Leopard model. It will also add a 1-liter compact named the Panda in the local market.

The company's Geely Automobile Holdings Ltd unit sold 186,000 vehicles last year, an increase of more than 20 percent, Geely Chairman Li Shufu said earlier this week. The unit cut its sales target to 190,000 in September. It aims to boost vehicle sales 18 percent this year to 220,000, Li added.

Geely expects to export 1.3 million vehicles a year by 2015 compared with about 30,000 last year. The company now operates factories in Russia, Ukraine and Indonesia, assembling vehicles from component kits.

The automaker and unidentified partners will make an initial investment of $500 million in the Mexican plant, which will eventually have a capacity of 300,000 vehicles a year.


http://news.xinhuanet.com/english/2008-01/16/content_7431773.htm


This is how Geely plans to hit their target sale this year. Last year, Geely and Chery did not really release any new models. I think that is the reason why they both miss their sale target.

Geely Auto to unveil new safety technology
(Agencies)
Updated: 2008-01-08 16:02


Geely Holding Group (Geely Auto), the parent of Hong Kong-listed Geely Automobile Holdings Ltd, said it plans to announce new safety technology at the North American International Auto Show in Detroit later this month.

China's largest privately-owned automaker said in a statement that the technology fills a current gap in safety technology by helping vehicles avoid high-speed accidents.

"While current auto safety technologies focus on passive protection for vehicles driven at normal speeds, prevention and control of unexpected accidents for automobiles running at high speeds is still a difficult problem for the industry." said Geely Auto.

It added that the China-patented technology has been tested by the Ministry of Public Security, which is in charge of the country's car safety testing program and regulates road traffic.

"It's a revolution in terms of auto safety." Geely Auto said.

Geely Auto, which also exhibited at the 2006 Detroit show with the intent of expanding into the US market, announced last month an export target of 50, 000 cars in 2008, compared with a target of 40,000 units in 2007.

http://www.chinadaily.com.cn/bizchina/2008-01/08/content_6379229.htm


Anyone knows what kind of technology they talk about ? Is it really " new " or is it just new to Geely ?

Is it electronic stability control? The hints as to what it is are kind of vague.

Geely aims to impress with technology

January 17, 2008

Geely, China's largest independent automaker, isn't ready to sell cars in the US yet, but has a major presence at the 2008 Detroit auto show to demonstrate that its technology is innovative and original.

The company showed Chinese-market sedans, hatchbacks and coupés, as well as a version of the LTI TX4 London taxi, which Geely builds under license in China.

But most of these cars are unlikely to be sold in the US or Europe; only the FC small sedan, 100 percent developed in-house, could be adapted for exports to developed markets.

Instead Geely is focusing on its technical capabilities at Detroit
The company has developed an electronic tyre blowout safety system called BBMS
.
Chairman Li Shufu spoke at length about an electronic tyre blowout safety system the company has developed called BBMS, describing it rather grandly as "our gift to mankind".

He said: "People do not believe that Chinese brands are doing innovative work. We want to show that we are."

Vice-president Frank Zhao said the company was building new assembly plants in China to give it an annual capacity of 1.7-million units by 2015 in nine facilities.

He said the company would pursue "a very aggressive overseas manufacturing plan", based on six planned assembly plants around the world, including one in Europe and one in Mexico, which was already under construction.

He said Geely would launch 15 new models in the next five years, with engines including its own, EU-compliant, two-litre diesels
The key is to switch from 'made in China' to 'developed in China'
.

The pace was rapid, he said: "Chinese brands have achieved in the past five years what it took Japanese and Korean brands 20 years to do."

The key was to switch from "made in China" to "developed in China", he added.

Asked when Geely would start operations in the US, Li Shufu’s response was enigmatic: That's a tough question; we will do it when you welcome us here."


http://www.motoring.co.za/index.php?fSectionId=751&fSetId=381&fArticleId=4209106

Is it electronic stability control? The hints as to what it is are kind of vague.


Well according to that article, it is an electronic tyre blowout safety system, anyone familiar with that ?

Sounds like Ford could've used that on their Exploder models, eh?

Quote:
Chairman Li Shufu spoke at length about an electronic tyre blowout safety system the company has developed called BBMS, describing it rather grandly as "our gift to mankind"..........

Asked when Geely would start operations in the US, Li Shufu’s response was enigmatic: That's a tough question; we will do it when you welcome us here."


Grandstanding about gimmicks like this will not make Geely welcome in the U.S..
But what will make it welcome is a determined and steady effort to improve on the current very poor quality of the product.

Geely Automobile Sales Rose 15% in Jan 08
Thursday, February 21, 2008; Posted: 05:33 AM


Geely Automobile Holdings Ltd. (SEHK: 0175), a leading Chinese homegrown carmaker, has reported that its four 46.8% controlled subsidiaries sold 22,753 cars in January 2008, up 15% from a year ago and 16.5% over December 2007.

The sales were a record monthly figure of the Zhejiang-based company and were more than the anticipation of the company.

The four subsidiaries, namely Zhejiang Geely Automobile Co., Ltd., Shanghai Maple Guorun Automobile Co., Ltd., Zhejiang Kingkong Automobile Co., Ltd. and Zhejiang Ruhoo Automobile Co., Ltd., sold 16,806 Free Cruisers, Kingkongs and Visions on the sedan market. The 2008 versions of three sedan models contributed most to the listed company's overall sales growth.

The sales of Kingkong and Vision hit over 5,200 cars and 3,300 cars in the first month of this year respectively, representing 38% of the company's total sales volume.

The four subsidiaries plan to sell 230,000 cars this year with a yearly 27% increase.

http://www.tradingmarkets.com/.site/news/Stock%20News/1119572/

Geely Megathon Continues - from China Car Times.

The Geely megathon that has been running on China Car Times seems to be showing zero effects of slowing down, news has leaked onto the internet that Geely is planning a whole plethora of cars, 18 new cars in total that will be broken down as follows:

* FIVE, thats 5 new platforms! These can be broken down into - super economy cars, economy cars, compact sedans, high performance cars and an SUV

* Geely SUV - this is the secret SUV that Geely have us all guessing about - pictures have floated onto the internet before, but we (and others) believe them to be doctored Nissan X-Trails. The biggest thing we’ve heard about this SUV so far, is that it will be Honda CRV sized, and will also be using a hybrid drive train! A hybrid SUV would be a first from Chinese makers, who have so far made hybrid MPVs and sedans. A hybrid SUV would be perfect for those who like the size and sense of security that an SUV brings, but prefer the fuel economy of a regular sized sedan.

* Beijing Auto Show - Geely are set to show off the King Kong hatchback, as well as 12 other new cars. Excited? You betcha! We want to know what Geely have been cooking up over the past year, apparently we will also see the second generation Geely Coupe. Hopefully it will be this one, and not this one.

Geely Auto reports a 50% rise in 2007 net profit

Apr. 17, 2008

http://www.chinaknowledge.com/News/news-detail.aspx?type=1&id=14654

Geely double-fuel vehicles roll off line

June 25, 2008 - The first batch of 54 double-fuel vehicles of Chinese car maker Geely Automobile Holdings have rolled off line at its Ningbo producing base, according to auto.tfol.com.

Free Cruiser and Vision, the two double-fuel models, are based on JL4G18 and MR479QA petrol engines and powered by the CNG double-fuel engine.

The double-fuel vehicles by Geely surely will win lots of consumers when the global petrol price is soaring, as using natural gas can save 35% to 50% more expense than petrol consumption, and that is to save about 15 yuan for every hundred kilometers, said the new energy experts of Geely auto.

source: Gasgoo.com

Who can upload some photos of "Geely double-fuel vehicles" ?
I think that Free Cruiser and Vision are CK1 & FC !!!

Geely thinking outside the box. That's green and great!
But I do hope that Geely did the necessary extreme conditions testing on these models. Afterall the whole industry is watching......

Geely in drive to ramp up auto exports.

July 14, 2008 - Chinese carmaker Geely Automobile Holdings has set a sales and production target of two million units by 2015, two-thirds of which it hopes to export. Executives say this will be met in a three-stage process over the next three years.

Zhao Fuquan, a Geely executive director, said having reached its mid-term sales target, the carmaker is confident it can reach this year's sales target of 240,000 cars.

In the first half-year, Geely sold 121,690 cars, representing growth of 12 percent over the same period last year.

This was despite the rising cost of resources and contraints posed by the mainland government's macroeconomic tightening measures.

These have dampened the performance of the auto industry, according to the China Association of Automobiles Manufacturers.

The combined sales of the three new Geely models - King Kong, Vision and Free Cruiser - now make up over 90 percent of its total sales.

Meanwhile, in this year alone, Zhao said the company hopes to produce 90,000 to 100,000 of its new Geely Panda mini-car model, to be launched in August. One-third of these are slated for export, he said.

The company has also finished research and development on two sportscars specifically targeting the European and American markets. The two models - the FC-2 and FC-3 - will be launched next March.

From:thestandard.com.hk

Geely June sales up 6.3% y/y to 15,466 units

July 15, 2008

Geely Automobile Holdings Ltd said it sold 15,466 vehicles in June, up 6.3 over the same month last year and up 0.5 pct from May.

For the first six months of this year, Geely sold 106,946 vehicles, up 27.2 pct year-on-year.

The six-month figure represents 46.5 pct of its full-year sales volume target of 230,000 vehicles, the mainland automaker said.

It said June sales met expectations as stronger exports more than offset generally weaker domestic demand due to a hike in refined oil prices, the start of the slow season and poor weather in east and south China.

http://www.gasgoo.com/auto-news/7071/Geely-June-sales-up-6-3-y-y-to-15-466-units.html

Geely aims to sell 5,000 methanol/LNG cars in 2008

July 15, 2008

Geely Automobile Holdings Ltd is targeting the sale of 5,000 methanol and liquefied natural gas powered cars this year, the South China Morning Post reported.

"Replacing petrol engine cars with methanol engine cars will become a trend because production costs are lower," said Yu Wei, general manager of Geely subsidiary Shanghai Maple.

The target breaks down to around 2,000 methanol-powered cars and 3,000 LNG cars.

http://www.gasgoo.com/auto-news/7062/Geely-aims-to-sell-5-000-methanol-LNG-cars-in-2008.html

Geely Auto sales volume increases 41% in July

August 14, 2008

Geely Automobile Holdings has announced that the total sales volume of the group's five 91%-owned subsidiaries was 15,789 units in July 2008, up 40.5% over July 2007.

For the first seven months of 2008, the total sales volume of the five subsidiaries was 122,735 units, up 28.7% over the same period of 2007, achieving 53.4% of their full year sales volume target of 230,000 units.

The company has exported approximately 6,000 cars in July 2008. The sales volumes of the Free Cruiser, Kingkong and Vision models were over 7,100 units, 4,900 units and 900 units, respectively, in July 2008. These three models accounted for about 82% of the total sales volume during in July 2008.

http://www.gasgoo.com/auto-news/7425/Geely-Auto-sales-volume-increases-41-in-July.html

Yuchai to start producing 2.0-liter diesel engine with Geely.

August 28th, 2008 - Guangxi Yuchai Machinery Co. will start producing a 2.0-liter diesel engine in mid-2010 in its joint ventures with Zhejiang Geely Holding Group and Zhejiang Yinlun Machinery Co.

The engine will be mounted on at least seven new Geely models, which are intended for export, says Jiang Shihong, general manager of Yuchai’s passenger vehicle business division.

"Of the new models Geely plans to launch, including mid-sized sedans, SUVs and vans, many will have diesel versions," he says.

The diesel cars are intended for overseas markets, but may also be sold inside China if the government starts encouraging the use of diesel passenger vehicles, he said.

Jiang says the 2.0-liter engine is being developed by Germany’s AVL List GmbH at present. Development of the engine’s prototype will be completed in September.

The intellectual property rights of the new engine belong to the joint ventures, he said.

When the new engine goes into mass production in 2010, the initial output will be a few thousand units a year. But Jiang says the volume is expected to increase later.

Earlier this year, Yuchai, Geely and Yinlun set up two joint ventures in Tiantai of Zhejiang province, and Jining of Shandong province.

Yuchai owns 52 percent of both joint ventures. Geely owns 30 percent, and the remaining 18 percent belongs to Yinlun.

The two joint ventures will eventually have a combined annual capacity of 300,000 engines.

Located in Yulin of Guangxi province, Yuchai is a m ajor diesel engine manufacturer in China.

It sold about 380,000 units of diesel engines last year, but all of them were for commercial vehicles or non-vehicle equipment and machinery.

Anticipating a boom in the domestic diesel passenger vehicle market, Yuchai hired Germany’s FEV Motorentechnik GmbH in 2004 to develop a 1.2-liter aluminum-based diesel engine for passenger vehicles.

But due to a lack of government support and lack of high quality diesel supply on the domestic market, the boom Yuchai expected didn’t materialize.

As a result, Yuchai hasn’t started commercial production of the engine yet.

source: China Automotive Information Net

Geely Auto to fix 30 dealers of Eagle series


September 03, 2008


Shanghai, September 3 (Gasgoo.com) China's biggest privately-owned carmaker Geely Automobile announced that it will fix the first batch of 30 Eagle brand dealers by the end of September among hundreds of dealers that have applied, reported 21st Century Business Herald today.

Launching the Eagle is a brand-boosting strategy by Geely Auto, who failed to get rid off its low-end brand image, Geely dealers revealed. Geely said the Panda minicar of the Geely Eagle series will go on sale soon in September. Different from the previous Geely and Maple brand "mass car" conception, Eagle brand is positioned as "intelligent, fashionable and individual."

The automaker plans to launch a new or revamped model every quarter in the coming three years. Apart from the second-quarter Golden Eagle and third-quarter Geely Panda, China Dragon model will also go on sale in the fourth quarter, and new models will be available to expand the Eagle series every year, according to Li Shufu, Geely president.

Geely Panda, priced at 40,000 yuan ($5,832), is intended to compete with Chery QQ in the A00 car market, sources said.

Geely is set to achieve annual sales of 2 million vehicles by 2015, of which two thirds are for export, but its current sales just lingers at 200,000.

http://www.gasgoo.com/auto-news/1007622/Geely-Auto-to-fix-30-dealers-of-Eagle-series.html

Geely targets methanol-powered cars


September 10, 2008


ZHEJIANG Geely Holdings Group said it will start mass producing methanol-powered vehicles by the end of the year, becoming the latest domestic car maker to make new energy-saving cars which will account for 10 percent of the total production of the industry within five years.

The privately-owned car maker plans to launch a methanol version of its Haifeng sedan by the end of 2008, according to a statement released by the company yesterday.

Driven by both pure methanol and fuel, the car is able to save energy consumption by more than 40 percent compared with existing models of energy-saving cars.

Geely has launched a series of dual-module vehicles since this year to meet government requirement to speed up the development of fuel-efficient and less-polluting models for sustained growth of the industry.

Its green fleets will also include a model which uses natural gas and a unique hybrid system, which could save fuel consumption by more than 50 percent.

The new technologies will be used in Geely's mainstream models such as Vision, Free Cruiser and King Kong sedans.

Geely's new energy vehicle blueprint plans to develop 5 hybrid sedans including electric cars as well as hydrogen vehicles, according to Li Shufu, its chairman.

Wan Gang, minister of science and technology, said the production of new energy vehicles will total 10,000 units by 2010. Fuel-efficient and new energy vehicles will account for 10 percent of the total vehicle production nationwide by 2012.

Shanghai GM's hybrid LaCrosse sedan, Toyota's Prius and Chang'an Auto Group's Jiexun sedan are the three Chinese-made clean energy vehicles available in the market.

Shanghai Automotive Industry Corp, the nation's biggest car maker, aims to boost the annual output of new energy cars to 50,000 units by 2010.

The auto maker also plans to manufacture 1,000 units of hydrogen vehicles during the same period, it said.

http://www.gasgoo.com/auto-news/1007704/Geely-targets-methanol-powered-cars.html

Geely cuts outlook for sales expansion

September 22, 2008


ZHEJIANG Geely Holdings Group has cut its sales growth from 30 percent to 20 percent this year, Chairman Li Shufu said, adding that it will stop making cars costing less than 40,000 yuan (US$5,882).

China's largest privately owned car maker attributed the slower growth to rising material costs and a tough economic environment.

''I have to say we have revised the sales target and we will avoid a price war,'' Li said at the Operation and Management Innovation Summit 2008 over the weekend.

He added that making cheap cars at a time of increasing material costs ''won't help anyone survive.''

In 2007, Geely's sales totaled more than 219,200 units and some of its models cost only 20,000 yuan. Geely will instead focus on cars costing above 40,000 yuan.

In August, domestic vehicle sales dropped month on month for the first time this year, according to the China Association of Automobile Manufacturers.

The sluggish car sales came amid an economic slowdown and the sluggish stock market, which lost almost two-thirds of its value since October.

Geely said two weeks ago that it will start mass producing methanol-powered vehicles by the end of the year.

http://www.gasgoo.com/auto-news/1007820/Geely-cuts-outlook-for-sales-expansion.html

Geely is waking up ? Making cheap cars and fighting a price war will just make Chinese domestic makers go down together.

I like Geely,it is a good company.

Geely Automobile sales volume slightly up in September


Oct 15, 2008

Geely Automobile Holdings has announced that the total sales volume of the group's five 91%-owned subsidiaries was 15,975 units in September 2008, up 0.5% over September 2007.
For the first three quarters of 2008, the total sales volume of the five subsidiaries was 152,899 units, up 22.4% over the same period of 2007, achieving 66% of full year sales volume target of 230,000 units. The company has exported approximately 3,000 cars in September 2008.

http://www.tradingmarkets.com/.site/news/Stock%20News/1944679/

Geely Auto recruits talents, bucking market slide

November 04, 2008

Shanghai, November 4 (Gasgoo.com) While many Chinese automakers are cutting outputs and jobs, a few are defying the trend of the auto market downturn to expand their operations. Like SAIC-GM-Wuling, Geely Auto is recruiting more talents for its growth amid the crisis of China's auto industry, reported Shanghai Securities News today.

Recent news abounds that Chery Auto, Jianghuai Auto, Changan Ford and other carmakers in China have plans to lay off some employees and reduce the output, because these companies are unable to fulfill this year's sales targets and their inventories are piling up as a result of the persistent downturn in the auto market. And this disturbing market trend will likely carry over into 2009.

But contrary to the general crisis, the sales of SAIC-GM-Wuling Auto and Geely Auto have benn booming recently. In the first nine months this year, Geely Auto sold 167,939 vehicles, up 10.8% year on year (y/y), exported 38,116 units, up 86.52% y/y, and achieved sales revenue of 9.42 billion yuan ($1.38 billion), up 24.81% y/y.

"Although the auto industry is suffering from the global financial turmoil, the performance sales of Geely Auto have been satisfactory this year to date. We have not laid off any employees these days and are recruiting new talents instead," said a top executive of the privately-owned Chinese carmaker.

Sources said that Geely Auto started in mid-October to recruit nearly 600 graduates from 17 universities across China, and these new employees come from tens of study fields such as foreign languages, engineering dynamics and marketing & sales.

In another development, SAIC-GM-Wuling said last week that the joint venture company will not cut any jobs now and will give its employees a pay raise of 8% or so. Construction of its West Plant is just completed and this facility's upcoming operation will need more staff.

http://www.gasgoo.com/auto-news/1008255/Geely-Auto-recruits-talents-bucking-market-slide.html

Geely sets up Xiangtan base for Vision production

November 07, 2008


Shanghai, November 7 (Gasgoo.com) Yesterday, Chinese car-maker Geely completed construction of its production base located in Xiangtan city, Hunan province. The new facility with an annual capacity of 100,000 will produce high-end Geely Vision, Beijing News said today.

Amid the global economic turmoil, big three American automakers and some domestic automakers are experiencing business slowdown and job cuts, but the privately-owned Chinese carmaker Geely is still stepping up its effort to extend production .

The Geely Xiangtan plant covers 373,520 squre meters, with an annual capacity of 100,000 vehicles. Geely vice president Liu Jinliang said the Xiangtan plant will focus on making all Vision-series as well as the production of models for overseas markets.

With Xiangtan factory put into production, Geely Ningbo plant has shifted from both making Vision and Free Cruiser to manufacturing Free Cruiser only.

Currently Geely owns four sedan production bases distributed in Linhai, Luqiao, Ningbo in Zhejiang province and Shanghai, with overall capacity reaching 300,000 units. Besides, the automaker also plans to have new factories in Jinan, Lanzhou and Chengdu.

Data released by Geely showed that Geely sales rose by 27% year on year to 130,000 units from January to August this year.

http://www.gasgoo.com/auto-news/1008292/Geely-sets-up-Xiangtan-base-for-Vision-production.html

Do this company already producing their product world wide?

Geely Auto expands facilities for new models

November 10, 2008

Shanghai, November 10 (Gasgoo.com) While the global auto market is sliding and many Chinese carmakers are mulling job cuts, Geely Auto bucks the trend by expansion. Its Hunan-based Xiangtan facility for producing the Geely Vision model was inaugurated last week, the Linhai base has been re-vamped and other plants are also being expanded, said xinhuanet.com today.

Meanwhile, Geely Auto has restructured its brand lineup, planning to phase out its existing Geely and Maple brands and re-designing them, among others, as three new brands of Eagle, Imperial (Dihao) and Shanghai Yinglun.

The newly expanded Xiangtan base, now with a monthly capacity of 3,000 units, will focus on developing and making models of the Vision series for the domestic and global markets. The Xiangtan plant has made Geely Kingkong sedans for one year, but this brand will give way to the Vision production.

The Linhai facility in Zhejian province has made the Vision and Freedom Cruiser Freedom models, and the Vision production line has now moved to Xiangtan. A Geely employee said that the Freedom Cruiser is currently the best-selling model of Geely, with about 70,000 units sold a year, but the Linhai plant has only an annual two-shift capacity of 100,000 units, not enough to make the two models at the same time.

The Linhai base has stopped producing the Merrie, Haoqing, Uliou and Beauty Leopard (BL) models and the BL will be re-designed as a model called China Dragon. Recently the facility has been revamped and expanded and will mass-produce the newly launched Geely Panda model as well.

There are four other Geely plants across China. The Jinan facility will make high-end Geely model such as Geely FC-2, the Lanzhou base will focus on assembling Kingkong and Freedom Cruiser cars for the northwestern Chinese and East Aisa markets, the Chengdu plant will make Geely SUVs, and the Guilin base will be a new R&D center for Geely Auto.

After its strategic brand restructuring, Geely Auto will shift its focus onto making high-end cars, with more than 40 new models (on 15 platforms) to hit each segment of the up-market. By promoting its all-new brand series - Eagle, Imperial (Dihao), Shanghai Yinglun and more in the years ahead, Geely Auto aims to reach annual sales of 2 million cars by 2015.

http://www.gasgoo.com/auto-news/1008315/Geely-Auto-expands-facilities-for-new-models.html

Geely Says Goodbye to Low-price Competition

Thu. November 13, 2008


Geely Automobile Holdings Ltd one of China's top private carmakers, has started its strategic transformation since 2007, waving a farewell to the low-price competition, said the chairman, Li Shufu.

The company has not produced the vehicles worth around CNY 30,000 any more, and seven to eight Geely car models have been eliminated. In particular, this automaker has substituted Free Cruiser, KingKong, Vision for its three outdated car models, including Haoqing, Merrie, and Uliou.

In the first half of this year, the sales volume of its three new car models accounted for 95% of the total, jumping 23.8% percentage points from a year earlier.

Along with the completion of the Global Geely Vision Manufacturing Base in the central Chinese city of Xiangtan, Hunan Province, on November 6, 2008, the company gave birth to the newest brand "Quanqiuying" (in Chinese). In the coming three to five years, Geely intends to create three to four sub- brands.

The Geely Chairman Li Shufu revealed that the company would unveil three to four new car models per year. Meanwhile, it is scheduled to set up five core technology platforms and 15 product platforms before 2015.

The financial crisis worldwide does not heavily struck Geely's export business, but its export volume has been on the decline since September 2008. Recently, it reduced the planned 2008 vehicle export volume to 40,000 from 60,000 or so.

Geely will be able to sell 230,000 vehicle this year, unless the global economic situation becomes worse, said Mr. Li. Remarkably, it intends to lift the sales target for the entire 2009.

In order to take the initiative in fending off the financial recession, the company built the Global Geely Vision Manufacturing Base. Covering a total area of around 373,520 square meters, the new base is composed of the pressing, painting, jointing, and final assembly centers, and its annual production capacity is expected to hit 100,000 vehicles.

Generally speaking, the Xiangtan-located base is designed to be responsible for development and production of the Geely Vision and other auto models adapt to the foreign markets in the near future.

As the first commercial family sedan model unveiled by Geely after the strategic reform, the Geely Vision made a fast and steady progress in the Chinese market. In particular, it is China's first self-developed car model that wins the 4-star rating of auto collision safety tests performed by the China New Car Assessment Program (C-NCAP).

http://www.tradingmarkets.com/.site/news/Stock%20News/2019953/

Sales of Geely Auto in October (by model)

November 12, 2008


http://www.gasgoo.com/resource/editor/未标题-4(2).jpg

Geely to launch "small Rolls-Royce" by 2011.

November 25, 2008 - Last week at the Guangzhou auto show, Geely Auto launched its small car Panda and other two new models code-named FC-2, FC-3, which will go on sale in June 2009. In addition to these economical cars, Geely is making its foray into the luxury sedan segment, and will launch its first premium sedan model nicknamed "small Rolls-Royce" by 2011, said xinhuanet.com today.

In October 2006, Geely Auto formed a joint venture (Shanghai LTI Automobile Components Co) with Shanghai Maple and UK's Manganese Bronze Holdings to produce the renowned London taxi TX4. This Geely-made taxi was put into trial operation during the Beijing 2008 Olympic Games in August. Now Geely has decided to use the TX4 platform to develop its own-brand luxury sedan while mass-producing the TX4 taxi.

The Geely sedan to be made on the TX4 platform will be driven by a world-class engine, possibly the V6 3.0L engine and even the V8 series, and equipped with Chinese-made automatic transmissions and the blowout monitoring and braking system (BMBS), Geely's self-developed driving safety technology.

Geely Auto aims to make this sedan model one of the top Chinese sedan brands. According to Geely's design plan, the sedan model will look like the China-made high-end model of a BMW or Mercedes-Benz series, but the overall design of the car body will be based on the TX4 which Geely is making.

The Geely sedan now has a working name "Yinglun Dihua" ("British imperial splendor") but is widely called the "small Rolls-Royce" by the auto industry and media. Positioned for the premium BMW / Mercedes-Benz-dominating market, the luxury Geely sedan is expected to sell for 300,000 yuan ($43,900) or so when it comes to market by 2011.

source: Gasgoo.com

geely seems a good car produced in china

Geely gets 1 bln yuan credit line from CEB

January 04, 2009
Shanghai, January 4 (Gasgoo.com) China Everbright Bank signed a deal on December 31 with Geely Automobile Holdings Group to provide the automaker a credit line of 1 billion yuan ($147 million), said xinhuanet.com yesterday. Of this amount, 250 million yuan will be used for Geely Auto's cash flow and the other 750 million yuan as financing support for Geely's dealers.

China Everbright Bank Hangzhoun Branch will use its banking, securities and insurance businesses to provide services of capital, investment and financing to Geely Auto. As one of the first Chinese banks that have been engaged in auto financing services, China Everbright Bank has cooperated with Chery Auto and Beiqi Foton and has built up its expertise in auto financing operation.

An auto industry analyst noted that the 1-billion credit line will help promote Geely Auto's newly initiated strategic transition. It will speed up the cash flow of Geely Auto in production, marketing, sales, and R&D. It can also give financial support to the coordinated development of Geely's Auto industry chain.

Geely president Li Shufu said that the money provided by the bank will be correctly used where it is most needed and can generate the best results. The deal with China Everbright Bank is expected to guarantee the smooth development and growth of Geely Auto amid the global financial crisis spillover in 2009.

Geely Auto plans to sell 281,000 vehicles in 2009, up 25% over 2008, as it introduces new models and taps government incentives to revive the slumping domestic auto market. The private Chinese automaker will launch a new model and a re-vamped model each quarter this year.


http://www.gasgoo.com/auto-news/1008937/Geely-gets-1-bln-yuan-credit-line-from-CEB.html

Chinese automaker Geely Auto Holdings Group said it would meet its annual sales target this year and would not cut production or target, though many carmakers in China had lowered their initial sales target.

Xinkuai Bao quoted Geely spokesman Chen Fangmin as saying that Geely would have its capacity and sales increase by 25% above and jobs grow by 5% in 2009 compared to this year.

It's doubtful whether the independent Chinese automaker is "making a show" amid the current economic turmoil. However, Chen said Geely now was taking large-scale recruitment in accordance with its 2009 target.

Geely Auto is carrying out a sweeping reform by streamlining its administration and slimming down the workforce to improve efficiency and productivity to confront with the financial crisis. The carmaker has cut its 22 administrative divisions to 15, reduced 25 tier-1 companies to 19, and has disbanded five tier-2 companies.


From:　ｇａｓｇｏｏ．ｃｏｍ

Geely Auto hits '08 sales target of 225,000 units

January 05, 2009

Shanghai, January 5 (Gasgoo.com) Chinese automaker Geely Auto Holdings Group announced it had fulfilled its 2008 annual sales target of 225,000 units and would increase sales by 25% in 2009, China News Service reported.

In 2008, Geely Auto saw domestic sales increased by 11.6% and exports up by 79.8%, achieving its targets for the year. The private carmaker made it clear that it would not cut jobs, production or sales target. Geely plans to sell 281,000 units this year, against nearly 225,000 units in 2008, a company official, Zhang Xiaodong, told Shanghai Daily on Sunday.

The carmaker aims to launch four all-new models and four revamped models in 2009 such as FE-1/2, SL, TX4, GC and Free Cruiser, Kingkong, Vision and AT Panda. It will also target SUV, MPV and mid- and high-class car sectors.

This year, Geely will firmly carry out its research and development strategy of five technical platforms, 15 product platforms and key auto parts. The automaker is planning to make a breakthrough in active and passive safety technologies, and meanwhile to develop new models.

http://www.gasgoo.com/auto-news/1008948/Geely-Auto-hits-08-sales-target-of-225-000-units.html

1. Geely FE-1/2
http://www.chinacarfans.com/wp-content/gallery/misc/fc-2.jpg (http://www.chinacarfans.com/2009/01/31/geely-to-launch-4-new-cars-in-2009/)

2. Geely GC
http://www.chinacarfans.com/wp-content/gallery/misc/gc.jpg (http://www.chinacarfans.com/2009/01/31/geely-to-launch-4-new-cars-in-2009/)

3. Geely SL
http://www.chinacarfans.com/wp-content/gallery/misc/sl.jpg (http://www.chinacarfans.com/2009/01/31/geely-to-launch-4-new-cars-in-2009/)

4. Geely TX4
http://www.chinacarfans.com/wp-content/gallery/misc/tx4.jpg (http://www.chinacarfans.com/2009/01/31/geely-to-launch-4-new-cars-in-2009/)


source: chinacarfans (http://www.chinacarfans.com/2009/01/31/geely-to-launch-4-new-cars-in-2009/)

Geely to stop making cheap cars below $5,860

March 11, 2009

Shanghai, March 11 (Gasgoo.com) Geely Automobile will stop manufacturing cheap vehicles priced below 40,000 yuan ($5,860), said Li Shufu, Geely Chairman, to Beijing Times on March 10.

Geely Automobile, China's major privately-owned carmaker based in Zhejiang, started its car business by making small vehicles valued between 20,000 yuan and 30,000 yuan.

The carmaker launched Geely Panda, priced above 40,000 yuan to supersede the original low-end products. Geely will shift its goal from making the cheapest car to the most safety, environmentally-friendly and energy-efficient car, Li declared.

Geely will roll out eight new models this year, Li said. The carmaker will invest more than one billion yuan in R&D in 2009, according to Li.

http://www.gasgoo.com/auto-news/1009604/Geely-to-stop-making-cheap-cars-below-5-860.html

Geely posts 191% rise in '08 net profit

April 17, 2009
Shanghai, April 17 (Gasgoo.com) Chinese car manufacturer Geely Automobile Holdings Ltd said on Thursday that its profit more than doubled last year on increased stakes in its affiliated units in China.

Net income rose to 879 million yuan (US$129 million), or 0.15 yuan a share, in 2008 from 302.5 million yuan, or 0.06 yuan a share, of the previous year, representing a growth of 191 percent.

Sales revenue rose to 4.29 billion yuan last year from 131.7 million yuan in 2007, the automaker said in a Hong Kong Stock Exchange statement.

Geely obtained approval from the Ministry of Commerce in June 2008 to raise its interests in each of five affiliated manufacturing units to 91 percent for $206 million.

The company boosted sales in China last year by 12 percent to 204,205 units by adding larger cars to compete with overseas brands. Its vehicle export in 2008 was equivalent to 37,940 units, up 80 percent from a year earlier.

The private auto firm aims to raise vehicle sales by 22 percent to 250,000 units this year. To meet the target Geely plans to add more than 4 new and 4 upgraded models in China this year.

http://autonews.gasgoo.com/auto-news/1010060/Geely-posts-191-rise-in-08-net-profit.html

Nice news for GEELY!

Feb. 26, 2010 (China Knowledge) - Zhejiang Geely Holdings Group, parent of the Geely Automobile Holdings Ltd<0175>, said yesterday that it planned to acquire Zhejiang Zhongyu Automobile Co, a Chinese special vehicle maker, as it aims to expand its product portfolio, Reuters reported. Zhejiang Geely said it would sign an agreement with the special vehicle maker this week

Of note here is the fact that both Geely and Zhongyu had recently struck deals with Yulon of Taiwan. Little Zhongyu was to be the major partner in the making of Yulon's Luxgen on the mainland until Dongfeng replaced them in the deal. Meanwhile Geely has given (some?) production of its Panda EVs to Yulon.

Geely set to sell Emgrand cars at Alibaba online store

Zhejiang Geely Holding Group, a private Chinese automaker who is buying Ford Motor's Volvo car unit, is starting to sell its Emgrand-branded cars at Alibaba.com's online store, media reported today.

Geely signed a strategic cooperation agreement with China's largest online retailer Alibaba Group on June 18 in Zhejiang province's capital city of Hangzhou, where the two companies headquartered, to promote and sell vehicles of Geely's sub-brand Emgrand on the Alibaba's legendary retail platform.

Sources said that Geely Group has planned its online retail mode for some time, with the "Gleagle-Panda" as the company's basic sales model, as it is more suited to young buyers' demands, but now the Emgrand brand is also listed as another option for online purchase of Geely vehicles.

Compared with the conventional store sales, special versions of certain models with unique equipment will be offered at the online-shops, said a sales executive of Geely. However, it remains to be seen which car model of Geely's Emgrand brand will make its debut when its Alibaba e-store opens early next year.

Geely sees online business as an effective platform to offer consumers more auto information and sales service. The cooperation with Alibaba is a new addition to the carmaker's traditional sales mode, also an innovation for the all-around development of China's auto industry.

http://autonews.gasgoo.com/auto-news/1015684/Geely-set-to-sell-Emgrand-cars-at-Alibaba-online-store.html