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265 Posts
Discussion Starter · #1 ·
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.

265 Posts
Discussion Starter · #10 ·
Geely and SMA go extra mile for women

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.

Premium Member
1,056 Posts
China's Geely Sales Up 36.2% in March 06

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."

8 Posts
Geely to introduce mid- to high-end products

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.

808 Posts
Geely to pump cash into JVs

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.

297 Posts
Geely Auto rolls a pioneering engine off its assembly line

Jin Jing
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.

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