Geely plans 2b yuan capex at Lanzhou

0 CommentsPrint E-mail China Daily, January 20, 2010
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Geely plans to have 15 overseas production facilities by 2015, said company officials.

Geely intends to sign the final agreement with Ford to take over its sub-brand Volvo before the Spring Festival and complete the transaction by May this year, said Vice-President Yin Daqing.

The company had acquired London's iconic black cab producer Manganese Bronze Holdings Plc in 2006, and Australian automatic transmission supplier Drivetrain Systems International in March 2008.

Last year, Geely's domestic vehicles sales surged 59 percent to 325,413 units, 30 percent higher than its own target.

However, its exports fell substantially last year due to the global financial crisis. It sold only 19,000 cars overseas last year, accounting for just 6 percent of its total sales, compared with 20 percent in 2008.

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