Tag: Zhejiang Geely Holding Group

Two of China’s EV Makers Announce a Deal as Auto Industry Moves Toward Consolidation

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Two leading electric carmakers in China said on Monday they would combine their battery charging subsidiaries, in the latest sign of consolidation in a severely crowded Chinese car industry. The deal will combine divisions of Nio and Zhejiang Geely Holding Group, with Nio also acquiring 10 percent of a separate Geely business. The transaction comes just two weeks after another Chinese automaker, Guangzhou Automobile Group, announced plans for a complex tie-up with First Automotive Works, a large manufacturer. Last year, two of the Chinese car industry’s giants, Dongfeng Motor and…

The Rising Chinese Automaker Not Named BYD

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Each April, the world’s top auto executives and engineers fly to China’s main auto show to take stock of BYD, the electric car powerhouse that passed Tesla in global sales last year. But at the Auto China event now happening in Beijing, another name is commanding attention: Zhejiang Geely Holding Group. In an unexpected development, Geely beat BYD in sales in the first two months of the year and is rapidly broadening its lineup. Geely is now pushing overseas, more than doubling exports to Europe, the Middle East and elsewhere…

China’s Popular Electric Vehicles Have Put Europe’s Automakers on Notice

Chin@Strategy

FRANKFURT — The name MG used to be synonymous with spirited but finicky sports cars from Britain. Nowadays the iconic octagonal badge serves a different kind of motoring ambition: China’s push to become a big player in the global auto market. SAIC Motor, one of China’s Big Four automakers, bought the MG brand in 2007 and is stamping it on a line of electric sport utility vehicles on sale in Germany and other European markets. MG is an example of how Chinese carmakers are exploiting the shift to electric cars…