Tag: geely

Report: Geely to release models developed with Volvo in 2015

Filed under: China, Volvo, Geely

The Geely logo is shown at the North American International Auto Show Monday, Jan. 14, 2008 in Detroit. (AP Photo/Carlos Osorio)

Geely and Volvo will finally team up for a jointly developed vehicle, more than three years after the safety-minded Swedish brand was gobbled up by Geely’s parent company, according to a report in Automotive News Europe. The story quotes Geely’s CEO, Gui Sheng Yue saying, “We have entered into actual research and development stage and I believe we can see the new product in the year after next.”

That means 2015, which is a mighty ambitious timetable to bring a vehicle to market. But as Geely’s CEO explains, life isn’t going to get any easier in the Chinese market, “Competitive pressure on domestic brands in the China market should increase considerably in the coming years as most major international brands are strengthening their presence,” he told ANE. Those statements also tell us that we shouldn’t expect to see Geely on American shores any time soon. The brand is simply too focused on topping the Chinese market, at least among CDM brands.

Geely to release models developed with Volvo in 2015 originally appeared on Autoblog on Thu, 22 Aug 2013 18:33:00 EST. Please see our terms for use of feeds.

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Geely channels London’s iconic taxi with Englong SC7-RV for Shanghai

Filed under: Wagon, China, Work, Shanghai Motor Show, Geely

Geely SC7-RV

Geely Englong SC7-RV – Click above to view the image gallery

Chinese automaker Geely is part owner of Manganese Bronze, which makes the famous black taxi cabs for the UK and Chinese markets. But while a pricey cab makes sense for the UK, a high-dollar cab in China isn’t always profitable. For that reason, Geely will introduce the Englong SC7-RV next week at the Shanghai Motor Show.

While the instantly recognizable UK taxi does its job well, it utilizes a platform that is totally unique. By contrast, the Englong SC7-RV will reportedly use a platform from Geely’s existing fleet. And since the parts are common and the production will likely occur in China, costs are expected to dip considerably. And if you ask us, the SC7-RV actually manages to look kind of cool. Even better for prospective taxi owners in China, this livery special will likely make it to production.

Gallery: Geely Englong SC7-RV

Geely Englong SC7-RV

[Source: China Car Times]

Geely channels London’s iconic taxi with Englong SC7-RV for Shanghai originally appeared on Autoblog on Fri, 15 Apr 2011 17:30:00 EST. Please see our terms for use of feeds.

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Geely-owned Volvo seeks €600 million EIB loan

Filed under: Europe, Government/Legal, Volvo, Earnings/Financials, Geely

2011 Volvo S60

2011 Volvo S60 – Click above for high-res image gallery

Volvo received a €200 million loan from the European Investment Bank in March of this year, and sought another €300 million to cement its finances as it navigated the process of being sold by Ford. The rest of the funds were put on hold as Ford concluded the deal with China’s Geely, but now that the sale is complete Volvo is ready to take delivery of the additional sum.

Geely-owned Volvo has revised its product timeline compared to when when it first applied for EIB assistance, however. As a result, it now seeks €600 million. At the moment, the process is on hold while Geely discusses loan guarantees with the Swedish government, but perhaps that extra dosh – assuming it’s approved – will help pay for Volvo’s 7 Series and S-Class competitor.

Gallery: 2011 Volvo S60

[Source: Reuters]

Geely-owned Volvo seeks €600 million EIB loan originally appeared on Autoblog on Sat, 11 Sep 2010 14:12:00 EST. Please see our terms for use of feeds.

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Report: Geely to be dissolved by 2012

Filed under: China, Geely

Geely LogoGeely Automotive Holdings, one of the four largest automakers in China, has announced that it will dissolve the Geely brand by 2012. The other brands under the Geely umbrella are Gleagle, Emgrand, Englon and now Volvo. The goal is to let the sub-brands emerge and strengthen sales while the Geely models fade away.

Gleagle, short for Global Eagle, is the automakers global brand, while Emgrand offers luxury options. The Englon division is responsible for the London Taxi-esqu TXN and TX4. The existing Geely Freedom Ship and Yuan Jing are going to be turned into Gleagles while the King Kong and Golden Eagle models will become Englons. If this all sounds terribly confusing to you, don’t be alarmed this just means you’re normal.

As the Geely brand dissolves, the company will focus on assisting their existing dealerships achieve greater levels of profitability and service. Also, they will begin to increase the number of Emgrand dealerships from 200 up to 250.

Gallery: Beijing 2010: Geely Emgrand GT

Gallery: Geely Englon TXN Taxi

[Source: China Car Times]

Report: Geely to be dissolved by 2012 originally appeared on Autoblog on Tue, 07 Sep 2010 16:31:00 EST. Please see our terms for use of feeds.

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Volvo sale to Geely to close next week?

Filed under: China, Europe, Volvo, Earnings/Financials, Luxury

Volvo may finally part ways with Ford by the end of next week. The Detroit Free Press reports that the Blue Oval is aiming to close its $1.8 billion sale of the Swedish automaker to Geely in as little as 10 days, though Ford has merely said that its goal is to hand over the Volvo reigns by the end of the third quarter of this year. The move to send Volvo packing is part of Ford CEO Alan Mulally’s strategy to slim the company down to focus on its core brands – a scheme that seems to be working so far.

In the meantime, Volvo managed to turn a profit of $53 million before taxes in the second quarter of this year. The news is a big leap from the same time last year – in the second quarter of 2009, the brand lost a heady $237 million. Ford’s sale of Volvo seems to have been on glacial pace, partly due to the number of government agencies in the U.S., Europe and China that were needed to sign off on the deal. By the time the ink dries on the last document, Geely will have secured the largest overseas acquisition of any Chinese automaker so far.

[Source: The Detroit Free Press]

Volvo sale to Geely to close next week? originally appeared on Autoblog on Thu, 29 Jul 2010 16:31:00 EST. Please see our terms for use of feeds.

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