This just in!!
Geely and Hunan Liebao Automobile Co., Ltd. have signed a strategic cooperation agreement. Geely will entrust Liebao with the production of unspecified new energy vehicles at Liebao's Changsha plant (the new one; the old Changsha plant went to GAC-Mitsubishi during the GAC-Changfeng separation). Liebao's car factories are now practically idle with little to no production. Geely will cooperate with Hunan Liebao on technology transfer, upgradation, resource/supply chain integration, market development in order to promote efficiency and synergies.
Is this a precursor to a takeover? Probably. While, on one hand, Geely can introduce Liebao to modern manufacturing tech, on the other hand, Liebao Automobile's auto parts business (for instance, having been long-time suppliers to the govt.) and expertise in 4-wheel drive systems could be attractions for Geely too.