New moves by Geely and BYD indicate the EV space is gaining momentum among China's domestic automakers, providing a psychological boost for the sector
- Tue
- May 21, 2013
- Updated: 5:14am
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Geely
Geely is a Chinese carmaker which sells cars under the brands Emgrand, Englon, Geely, Gleagle and Volvo, which it acquired from Ford Motor in 2010 for US$1.8 billion. A Geely unit is listed on the Stock Exchange of Hong Kong.
Sales at mainland carmaker Geely Automobile in the first four months of this year are already well ahead of its target growth rate, the company said, and it predicted a strong second half as long...
A funny thing happened on the way to China’s drive to build a world-beating auto industry: It got sidetracked.
Republican lawmakers said the US government missed early warning signs that its loans to electric carmaker Fisker Automotive could be in trouble, and kept money flowing even after the startup...
Brilliance Auto - one of the most profitable Chinese carmakers and a joint-venture partner with BMW - invested just five million yuan (HK$6.27 million), or 60 yuan per vehicle, to develop its own...
Bird flu worries are continuing to reverberate through the mainland's stock markets, with carmakers' shares now rising on expectations that more people will use private cars rather than risk...
Geely is to build a research centre with Volvo Cars in Volvo's home country, Sweden, the first time a mainland carmaker has moved its research and development work overseas.
Vehicle makers' stocks continued to rally yesterday, with electric-car manufacturer BYD closing above HK$30 for the first time in 21 months after robust sales on the mainland last month.
News bits from the automobile space indicate the long-awaited IPO by Beijing-based car maker BAIC Motor may finally be coming soon, while the struggling Geely (
The bankruptcy of Geely's UK investment could foreshadow a similar fate for its Volvo unit, which has been plagued by management turmoil and failure to execute a turnaround plan.
Car stocks tumbled yesterday following Guangzhou's weekend decision to halve the annual cap on new car registrations.
Mainland car stocks also carried on their slide from Monday,...
Geely Automobile says it will roll out its domestically produced car - developed with Volvo - as early as next year, with a price tag of 100,000 to 300,000 yuan.
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