Renault Group and Geely Auto, China’s largest privately-owned automotive group, have entered into a share subscription agreement and a joint venture agreement subsequent to a framework agreement signed in January 2022 between Renault Group and Geely Holding Group. On completion, Geely Automobile Holdings (0175.hk) via its subsidiary, Centurion Industries Limited, will hold 34.02% of the total issued share capital of Renault Korea Motors (RKM). Renault Group remains the majority shareholder in RKMand will continue to fully consolidate the entity.
National carmaker PROTON has signed an agreement to appoint CMH Group as the distributor for Proton vehicles in South Africa. The signing, which was held virtually, will see the first shipment of fully imported (CBU) models go on sale in September, with the Proton X50 and Proton X70 leading the charge. This will be followed by the Proton Saga, which is making a return to the nation 10-years after sales ended in 2012.
Geely Holding Group announced that it has joined hands with Circle K Denmark, Aalborg University, and Fonden Green Hub Denmark to collaborate on a 15-month test and demonstration trial for green e-methanol fuel and methanol vehicles in Denmark.
In the frigid northern Chinese province of Heilongjiang, Geely brought the world’s first methanol hybrid sedan to test its performance in sub -40 degrees C Arctic conditions.
Renault Group and Geely Holding Group (Geely Group), China’s largest privately-owned automotive group, have signed an agreement to launch a new collaboration dedicated to bringing fuel-efficient Hybrid Electric Vehicles (HEV) and Internal Combustion Engine (ICE) models to the South Korean market as well as for export sales. The new vehicles will be produced at the Renault-Samsung facility in Busan, South Korea, with production forecast to begin in 2024.
Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales across its automotive brands – Geely Auto, Geometry, LYNK & CO, Zeekr, Volvo Cars, PROTON, Lotus, LEVC, and Farizon Commercial Vehicle – grew 5% year-on-year to exceed 2.2 million units in 2021, a new record for the Group. For the fourth consecutive year, Geely Holding recorded more than 2 million units in aggregate sales.
Zhejiang Geely Holding Group (Geely Holding) has joined the United Nations Global Compact (UNGC) as a participant as of January 6, 2022. As a signatory and participant in the UNGC initiative, Geely Holding has committed itself to upholding the ten principles of the Compact covering human rights, labour, the environment, and anti-corruption as well as contributing to the 17 UN Sustainable Development Goals in its strategies and operations.
Lynk & Co, the global automotive brand jointly formed by Geely Auto Group and Volvo Cars has partnered with Al Zayani Group for its launch in Kuwait. Born global, Lynk & Co continues to grow its global presence with plans to establish Lynk & Co clubs in the Gulf markets starting with Kuwait.
Thirty-five years ago, a young hopeful entrepreneur with a vision that free enterprise and market-based solutions could drive the sustainable development of society started a company in a village warehouse. Today, the company Eric Li founded, Geely, has evolved from a small village workshop to a Fortune Global 500 automotive and mobility technology solutions provider in a 35 year period.
Geely Auto Group announced its “Smart Geely 2025” strategy that will continue to keep Geely Auto Group at the forefront of the global automotive industry.