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Discussion Starter · #1 ·
The mexican AutoPlus magazine published an interview with Armando Jimenez, Economic Development Secretary in the mexican state of Aguascalientes, there are negotiations with Geely to install a production plant in Mexico.
However Geely hasn't make an official anouncement about it.
 

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Yes Ohlyn, Geely's Chairman Li Shufu spoke about this to Automotive News at the recent Detroit Auto Show. Construction is said to begin early this year, on an assembly plant that will have an annual production capacity of 300,000.

Mexico is about to reap the benefits of Chinese automotive investment as FAW has already broken ground on its assembly plant in Zinapecuaro.

However Chamco's plan for building a plant to assemble Zhongxing vehicles, appears to have died.
 

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You are righ, today I read in other magazine a short interview with Geely's chairman, Li Shufu said the production will help Geely to enter in USA market using the beneficts of NAFTA, however he said nothing about the plant location wich I think is the less important subject.
 

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Geely has signed a memorandum of understanding with a Mexican company to build an industrial park including a car plant.

June 24, 2008 - Chinese car maker Geely Automobile Holdings plans to enter American markets through a $500 million car assembly plant in Mexico, it said on Monday.

Its parent, Geely Holding Group, has signed a memorandum of understanding with a Mexican company to build an industrial park including a car plant that it hopes will be able to manufacture 300,000 vehicles a year.

Geely, which hopes to shake off its image as a purveyor of low-priced cars, is one of a handful of Chinese automakers eyeing America.

"The car-making project, if it materialises, will be executed by the listed company," Geely's chairman Li Shufu told reporters.

"It will have a total capacity of 300,000 cars a year and service all of North, South and Central America," said Li, one of the country's richest self-made businessmen.

Although the group has said it expected construction of the plant to start in early 2008, Li said the industrial park had not been finalised as the group is still in talks with the Mexican government, seeking more favourable policies.

"If we aren't satisfied with the policies, the project may not move ahead," said Li, who also controls Zhejiang Geely.

The investment will be Geely's largest overseas and the industrial park will host an assembly plant, auto parts suppliers and other businesses.

Listed Geely said last week it had obtained approval from the Ministry of Commerce to issue $206 million worth of new shares to buy a 44.19 percent stake in each of five affiliated manufacturing units from its parent.

The move, which will lift Geely's interest in the companies to 91 percent each, will allow the Chinese automaker to get the five companies' profits and revenues on its books.

Its stock finished down 2.2 percent, lagging a 0.9 percent fall on the index .HSCE for Chinese companies listed in Hong Kong.

Geely hopes to sell 230,000 cars this year, rising to 2 million by 2015, about two-third on overseas markets.

source: Reuters
 

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Geely wants to enter US from Mexico now -this looks like an article from 2006 but not

i swear, geely keeps spitting out same news every year and no results


China car maker Geely eyes U.S. markets via Mexico
Mon Jun 23, 2008 12:45pm BST Email | Print | Share| Single Page| Recommend (0) [-] Text [+] HONG KONG, June 23 (Reuters) - Chinese car maker Geely Automobile Holdings (0175.HK: Quote, Profile, Research) plans to enter American markets through a $500 million car assembly plant in Mexico, it said on Monday.

Its parent, Geely Holding Group, has signed a memorandum of understanding with a Mexican company to build an industrial park including a car plant that it hopes will be able to manufacture 300,000 vehicles a year.

Geely, which hopes to shake off its image as a purveyor of low-priced cars, is one of a handful of Chinese automakers eyeing America.

"The car-making project, if it materialises, will be executed by the listed company," Geely's chairman Li Shufu told reporters.

"It will have a total capacity of 300,000 cars a year and service all of North, South and Central America," said Li, one of the country's richest self-made businessmen.

http://uk.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUKHKG20295720080623
 

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Re: Geely wants to enter US from Mexico now -this looks like an article from 2006 but not

Geely's image is deeply ingrained now, it spreads from everywhere South Africa to Asia, almost everyone complains about Geely.

And you're right, Geely keeps spitting out the same old thing every year and pretty much everyone is fed up. I dunno if Geely will really bring out something or just a publicity stunt in April Beijing Auto show.
 

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Geely to build Mexico plant before 2013

August 06, 2008

Shanghai, August 6 (Gasgoo.com) China's Geely Automobile Holdings plans to build a $500 million car assembly plant in Mexico within five years, Chinese media reported today.

By 2013, Geely will itself invest $269 million in the plant with an initial capacity of 120,000 units annually. Another 12 Chinese second-tier suppliers will spend $231 million further on the project.

Parent company Geely Holding Group is reported to have signed a cooperation memorandum with a Mexican company in June to jointly build an industrial park including a car plant with an annual production capacity of 300,000 units.

"It will have a total capacity of 300,000 cars a year and service all of North, South and Central Americas," Geely's chairman Li Shufu told Reuters.

Geely sold 121,690 vehicles in the first half of this year, up 11.8% from one year earlier. Sales of Geely KingKong and Vision models increased by 65.83% and 220.99% respectively, significantly exceeding its own sales target of that period.

http://www.gasgoo.com/auto-news/7331/Geely-to-build-Mexico-plant-before-2013.html

So they'll build a plant in Mexico around 2012 (supposedly) and want to export to US and Europe next year ?
 

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Plant will be located in the city of Leon in central Mexico.

August 26, 2008 - Geely Automobile, the independent Chinese automaker, is moving ahead with plans to construct an assembly plant in Mexico to supply both North and South American markets. Geely and a local partner will invest up to $270 million to build a factory in León, the capital of Guanajuato state in central Mexico.

Geely believes Mexico will provide a steppingstone to achieve its ultimate ambition: conquering the U.S. market. Mexico offers a great deal of opportunity, not only as an export hub supported by competitive labor rates, but also an attractive market of about the same size as Canada's, with annual sales of 1.1 million vehicles.

The León plant eventually will have an annual capacity of 300,000 units and will create more than 2,000 new jobs. Geely expects the surrounding industrial park will attract up to a dozen major suppliers, bringing an additional investment of $230 million.

In the initial stage, Geely plans to invest $130 million over three years, ramping annual production up to 50,000 units. In the second stage, the company would invest another $140 million over two years, boosting capacity to 120,000 units. A third stage, after 2013, will take annual capacity to 300,000 units.

Geely isn't the first Chinese auto company to look to Mexico. First Auto Works has already announced plans to build an assembly operation in Mexico in partnership with Grupo Salinas, a multibillion-dollar Mexican retail and media organization.

A smaller Chinese truckmaker, Zhongxing Auto, also had planned to open an assembly operation in Mexico, but it is revising its plans after severing ties with its former U.S. distribution partner, Chamco.
http://www.edmunds.com/insideline/do/News/articleId=131227
 

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Chery will be outlining its joint strategy with partner Quantum in the end of November, nddaily.com reported today.
The partnership with Quantum, a subsidiary of Israel's largest holding company, the Israel Corporation, will focus on a new brand for the joint venture. The Qoros brand already has three brand new models planned for sale both China and the West, with its first European sales scheduled for 2012. The new vehicles will be priced between 11,000 and 15,000 euros ($14,895-$20,311).
Chery and Quantum will work aside Austrian automobile manufacturer Magna Steyr, who will aid in confirming engineering R&D, design, production and quality control adheres to European standards. Graz-based Magna Steyr aided in manufacture of the Mercedes G-Class, BMW X3, Mini Countryman and Peugeot RCZ, and has technological partnerships with FAW Hongqi, FAW-VW, SAIC and Shaanxi Automobile Group. - From gasgoo.com/auto news
 
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