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Old 03-28-2019, 08:50 AM   #31
dmitra
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Default Daimler-Geely JV re: Smart

https://europe.autonews.com/automake...based-ev-brand
https://www.reuters.com/article/us-d...-idUSKCN1R90NG
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Old 03-28-2019, 03:19 PM   #32
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Default Re: Geely introduction

Now Geely can enjoy losing money for decades...
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Old 03-31-2019, 05:50 AM   #33
erik (laofan), cmvdc
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Default Re: Geely introduction

remember Volvo losing money for years, during the Ford period. Geely came in and look: profits!!
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Old 03-31-2019, 06:54 AM   #34
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Default Re: Geely introduction

Quote:
Originally Posted by erik (laofan), cmvdc View Post
remember Volvo losing money for years, during the Ford period. Geely came in and look: profits!!
Volvo had a lot more upside. It was a luxury automaker, held in higher regard, etc.

Smart has never recorded a profit. Even VW left it for dead before Daimler. It is known for its poor reliability, poor driving dynamics, etc, etc, etc.
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Old 01-08-2020, 08:36 AM   #35
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Default

Mercedes-Benz and Geely Holding have formally established global joint venture “Smart Automobile Co., Ltd.” for the smart brand
Quote:
Mercedes-Benz AG (Mercedes-Benz) and Zhejiang Geely Holding Group (Geely Holding), the German and Chinese automotive groups, today announced that they have formally established the global joint venture “smart Automobile Co., Ltd.” for the smart brand after receiving the regulatory approvals.

The total registered capital of the Joint Venture will be 5.4 billion RMB to transform smart into a leading player in premium-and intelligent electrified vehicles. Both parties will equally contribute 2.7 billion RMB, the share of Mercedes-Benz AG will be mainly covered by the contribution of the smart brand. The global headquarters of the new joint venture has been set in Hangzhou Bay, Ningbo with operational sales functions based in China and Germany.

The new generation of smart vehicles will be designed by the worldwide Mercedes-Benz Design network and developed by the Geely global engineering network. Future production will be located in China.

...
https://www.automotiveworld.com/news...e-smart-brand/
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Old 01-08-2020, 11:14 AM   #36
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Default Re: Geely introduction

Perhaps the divestment by Zhejiang Geely Holding, in both Kandi and Zhidou (both makers of Smart lookalikes), was in preparation for this "Smart Auto." venture. I don't know but the global scope of the Smart model looks promising.

Last edited by Lawrence; 01-08-2020 at 11:16 AM.
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Old 02-19-2020, 12:57 PM   #37
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Default Geely and Volvo to merge

Geely Automobile Holdings Limited and Volvo Cars Announce Discussions Regarding Possible Combination of Businesses

Quote:
Geely Automobile Holdings Limited (Hong Kong 0175) announces that the management of the company is in preliminary discussions with the management of Volvo Car AB (“Volvo Cars”) regarding a possible restructuring through a combination of the businesses of the two companies (the “Proposed Transaction”) into a strong global group that could realise synergies in cost structure and new technology development to face the challenges in the future. The intention would be to preserve the distinct identity of each of the brands Geely, Volvo, Lynk & Co and Polestar. It is intended that the combined business will be listed in both Hong Kong and Stockholm to enable it to access the capital markets.

As of the date of this announcement, no concrete timetable or detailed plans of the Proposed Transaction have been formed. The Proposed Transaction, if it materialises, will be subject to, among others, approvals of the respective boards and shareholders of the Company and Volvo Cars, regulatory approvals and prevailing market conditions. The Company will make further announcements in relation to the Proposed Transaction if and when required.

As the Proposed Transaction is only preliminary in nature, it may or may not proceed, shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.
http://global.geely.com/media-center...of-businesses/
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