This increase cost about 290 million USD. After the increase, Geely's stake in Aston Martin more than doubled.
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Category: Geely
With a range exceeding 1,000km, Zeekr 001 started delivering the new version equipped with CATL Qilin batteries
Zeekr 001 is the first production vehicle to be powered by CATL Qilin batteries. CATL Qilin battery is currently the mass-produced power battery with the highest energy density in the market.
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China became the world’s largest vehicle exporter in Q1 2023, surpassing Japan
By continents, Chinese vehicles are mainly exported to:
- Africa: Egypt and South Africa
- Asia: Saudi Arabia, India, Thailand, and Vietnam
- Europe: Russia and the UK
- North America: USA, Mexico, and the Caribbean
- South America: Brazil, Chile, Peru, and Ecuador
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Chinese auto giants Geely and Changan sign strategic cooperation deal
In the first quarter, Changan and Geely ranked third and fourth, respectively, in China in terms of retail vehicle sales.
(Image credit: Geely)
It's interesting to see tow of China's largest automakers announce a cooperation agreement, even though they are rivals.
Zhejiang Geely Holding Group and Chongqing Changan Automobile signed a strategic cooperation framework agreement on May 9, according to press releases issued today by the two companies.
The two sides will launch strategic cooperation in areas including new energy, intelligence, new energy power, overseas market expansion, and mobility to jointly promote the upward development of Chinese brands, according to their press releases.
This this will help create a better consumer and travel experience for users and help transform and upgrade the Chinese auto industry and develop with high quality, the two companies said.
Changan chairman Zhu Huarong, Geely chairman Eric Li, and Fu Bingfeng, executive vice-president of the China Association of Automobile Manufacturers (CAAM) attended the signing ceremony.
Changan and Geely are excellent representatives of Chinese auto companies, and the open cooperation between the two is conducive to building the image of Chinese auto brands and spawning industry synergies, said Fu.
Intelligence and electrification are the focus of the strategic cooperation between Geely and Changan.
In the field of new energy, the two sides will cooperate on battery cells, charging technology, battery swap technology, new energy vehicle (NEV) product safety, and new energy industry layout.
In the field of intelligence, they will cooperate around chip, operating system, vehicle system interconnection, high-precision map and autonomous driving.
The two sides will also work together on power platform and power technology, explore cooperation in overseas development and mobility ecology, and cooperate in the fields of industrial internet, block chain and carbon trading.
The two companies will work together to enhance their core competitiveness and help Chinese vehicles enter the middle and high end of the global automotive value chain, said Geely's Li.
Neither Geely nor Changan -- which ranks in the top five in Chinese auto sales -- provided more details on their partnership in their press releases.
In the first quarter, Changan sold 302,898 vehicles at retail, making it the No. 3 brand in China for the period, according to the China Passenger Car Association (CPCA).
Geely ranked fourth with retail sales of 269,701 units in the first quarter. The top two were BYD and FAW-Volkswagen, with retail sales of 508,706 and 368,762, respectively.
Geely Galaxy brand officially launched, to roll out 7 models by 2025
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Geely’s Radar RD6 launches a 4,800 USD cheaper base model
Electric pickup with 410km range now costs 145,800 yuan (21,000 USD)
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Smart #3 EV arrived at the dealer in China, European launch set for the beginning of 2024
Smart is a brand owned by Mercedes and Geely. Mercedes takes care of the exterior and interior design, and Geely about manufacturing and tech.
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Geely Galaxy sees 1st production vehicles of L7 SUV roll off line
Geely Galaxy said yesterday that the L7 has accumulated more than 10,000 orders since it began allowing consumer pre-orders two months ago, although the model's price has not yet been announced.
(Image credit: Geely Galaxy)
Geely Galaxy, the new energy vehicle (NEV) sub-brand of Geely Auto Group, saw the first production vehicles of its first model, the L7, roll off the production line, signaling that the model is not far from being officially launched and delivered.
The first production vehicles of the L7 have rolled off the production line and are being shipped across China, Geely Galaxy announced today on Weibo.
Yesterday, Geely Galaxy said the L7 has accumulated more than 10,000 orders since it began allowing consumer pre-orders two months ago, although the model's price has not yet been announced.
Geely Auto Group officially launched the new Geely Galaxy brand on February 24 and unveiled the first production model, the L7, saying the SUV will be available in the second quarter of this year.
The new brand plans to launch a cumulative total of seven models by 2025, including four plug-in hybrid models in the L series and three all-electric models in the E series.
Geely Galaxy will launch the L6 in the third quarter of 2023, the L5 in the second quarter of 2024, and the L9 in 2025.
In the all-electric product sequence, Geely Galaxy will launch the E8 in the fourth quarter of 2023, the E7 in the second quarter of 2024 and will launch the E6 in the third quarter of 2024.
The Geely Galaxy L7 is a hybrid SUV with a length, width and height of 4,700 mm, 1,905 mm and 1,685 mm, respectively, and a wheelbase of 2,785 mm.
The vehicle is powered by a 1.5T engine with a thermal efficiency of 44.26 percent, ranking first among known production engines, Geely said at the February 24 launch event.
Geely announced at that launch that the L7 was available for pre-order, but the price was not revealed. The model is currently expected to cost less than 200,000 yuan ($29,000).
The Geely Galaxy launch is one of Geely's moves to meet its sales targets for the year and to increase its electrification transition.
Geely Auto Group CEO Gan Jiayue said in January that the group's sales target for 2023 is 1.65 million vehicles, including 600,000 NEVs.
Geely Auto Group sold 1.43 million vehicles in 2022, up 8 percent from a year earlier, including about 330,000 NEVs, according to data monitored by CnEVPost.
($1 = RMB 6.8963)
Geely Galaxy brand officially launched, to roll out 7 models by 2025
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Geely Panda Mini Limited Edition launched in China, price starts at 7,800 USD
What the duck!
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Geely’s Ruilan 7 coupe SUV with battery swap at Shanghai Auto Show
Ruilan Auto is a joint venture company established by Geely and Lifan. It also builds battery swap stations. #ShanghaiAutoShow2023
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Zeekr X launched with 560 km range for 27,600 USD. Coming to Europe
The Zeekr X from Geely launched in China with 428 hp and 3.7-seconds 0-100 km/h acceleration time. Later, it will enter the European market.
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