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Old 01-14-2007, 09:43 PM   #41
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Old 01-15-2007, 07:33 AM   #42
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I think a new slogan would be more use:
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Old 03-04-2007, 04:00 AM   #43
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is it a safty car? just worry about safty, other is quite OK.
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Old 03-27-2007, 11:45 PM   #44
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Default Geely sets up joint ventures in inland China

good, they should focus internally before external

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.
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Old 03-28-2007, 08:08 AM   #45
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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.

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Old 07-17-2007, 11:47 PM   #46
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Post China’s Geely to buy parent’s car plants

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
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Old 07-18-2007, 03:16 AM   #47
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Default Geely sputters over stock deal

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
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Old 07-19-2007, 07:20 PM   #48
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geely doesnt seem like smnartest company
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Old 08-05-2007, 02:08 PM   #49
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Default Geely Automotive business news

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.
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Old 08-13-2007, 10:01 PM   #50
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Post Geely posts 34.6% sales rise in July

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.
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