posted
(Gelyf.pk)? China is supposed to be coming to the U.S. in 2008/09. Launching prototype in Puerto Rico. Any thoughts on this???
Posts: 8 | From: Chicago, IL | Registered: Jan 2006
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GELYF -- Geely Automobile Holdings Ltd. Ord COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Geely Auto to Set up Two New Companies
HANGZHOU, Mar 29, 2007 (SinoCast via COMTEX) -- Geely Automobile Holdings Ltd. (SEHK: 0175), a Hong Kong-listed carmaker, announced that it had signed agreements to set up two auto parts companies with Zhejiang Haoqing Automobile Manufacturing Co. Ltd. and Ningbo Merrie Automobile Manufacturing Co., Ltd. Centurion Industries Limited, a whole subsidiary of Geely Automobile, will build the two companies in Hunan Province and Lanzhou, capital of Gansu Province with the two Zhejiang-based auto manufacturing companies, which are controlled by Geely's chairman Li Shufu. The three parties will invest USD 75 million each with Centurion holding 53.19% shares in both ventures and the other two investors 46.81% shares in the ventures each.
The investment is regarded as one of Geely's mid- and long-term goals. Favored by China's fast growing economy, Geely plans to set up the two companies engaged in the R&D, production, marketing and sale of auto parts in energy saving and car care.
Posts: 8 | From: Chicago, IL | Registered: Jan 2006
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posted
An article from the Detroit News Tuesday, March 27, 2007
Automaker Geely sets up joint ventures in inland China SHANGHAI, China -- Geely Automobile said Tuesday it has set up two joint ventures with a sister company to build and sell economy cars in inland provinces where the labor costs are low and sales are just beginning to take off.
In a notice to the Hong Kong Stock Exchange, the Chinese automaker said the ventures were planned to tap continued strong growth in demand for "fuel-efficient and easy-to-maintain economy sedans."
Geely Automobile, based in Zhejiang province near Shanghai, said it plans to spend $75 million on each of the ventures, to be built in central China's Hunan province and in Gansu, in the northwest.
The Hunan venture will be 53.19 percent owned by Zhejiang Haoqing, a Geely subsidiary, and 46.81 percent owned by Centurion Industries Ltd., a holding company registered in the British Virgin Islands that is wholly owned by Geely.
The Gansu venture, to be based near the provincial capital of Lanzhou, will be 53.19 percent held by Zhejiang Geely Merrie and 46.81 percent by Centurion, it said. All companies involved are controlled by Geely's chairman and founder Li Shufu.
Geely has vowed to overcome technical hurdles and the negative image of Chinese manufacturing to begin selling a low-priced family sedan in the United States by 2008. While trying to expand overseas, it also is focusing on the fastest growing segment of the domestic market -- affordable economy cars.
The company, whose name denotes good luck in Chinese, was founded in 1986 and is one of China's few privately held auto companies.
Posts: 8 | From: Chicago, IL | Registered: Jan 2006
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posted
China Auto Makers to Sell Shares In Bid to Capitalize on Car Boom By Gordon Fairclough Companies Featured in This Article: Ford Motor, Volkswagen, Toyota Motor, Honda Motor, DaimlerChrysler, Geely Automobile Holdings , Mazda Motor SHANGHAI -- China's expanding auto industry has been filling the country's roads with new cars. Now it is poised to start flooding equity markets here and in Hong Kong with new shares.
Several companies, including state-owned enterprises that are partners in China with the world's largest auto makers, in recent weeks have said they are thinking about issuing stock. Executives from China South Industries Motor, which works with Ford Motor; First Auto Works, a partner of Volkswagen; and Guangzhou Automobile Group, which has one venture with Toyota Motor and another with Honda Motor, have all said they intend to pursue ...
Posts: 8 | From: Chicago, IL | Registered: Jan 2006
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