Manufacturing News

Geely: No deadline to enter U.S., Europe markets

Zhejiang Geely Holding Group Co. plans to develop a car jointly with partner Volvo Car Corp., but it may be a while before that vehicle is sold in the United States or Europe.

Geely spokesman Yang Xueliang told Automotive News China this week that the company expects the car to go on sale in China in late 2016, but has set no timetable for its sale overseas.

Yang's comments followed a Bloomberg News interview of Gui Shengyue, CEO of Geely Automobile Holdings Ltd., who confirmed the company's plans to develop a car jointly with Volvo. Geely Automobile is the Hong Kong-based subsidiary of Zhejiang Geely, which is headquartered in Hangzhou.

Following its acquisition of Volvo from Ford Motor Co. in 2010, Geely has planned to use Volvo's technology to upgrade its model lineup. That could help Geely to expand sales in China and in overseas markets.

In 2012, Geely sold 100,800 vehicles abroad, and it expects to export as many as 180,000 units this year. Its biggest foreign markets are Russia, Saudi Arabia and Ukraine.

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