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Old 04-27-2020, 11:45 AM   #17
Join Date: Nov 2013
Posts: 7,682

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.

Last edited by dmitra; 04-29-2020 at 02:00 AM. Reason: language; typo discovered
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