Latest news with #GeelyHolding
Time of India
8 hours ago
- Automotive
- Time of India
Geely to hold 26.4% stake in Brazilian JV majority-owned by Renault
China's Geely said on Friday it and its parent Geely Holding would take a combined 26.4% stake in a joint venture controlled by its French partner Renault as the two seek to produce and sell cars jointly in Brazil. The two automakers have entered an agreement that would see Renault take 73.57% in the venture that would focus on producing and distributing cars in Brazil under the Renault and Geely brands. It is also due to make and distribute light commercial vehicles under the Renault brand to "attract new customers", according to a filing by Geely Auto. The deal is subject to regulatory approvals, the company said. Geely and Renault first announced their partnership to produce and sell zero- and low-emission vehicles in Brazil in February. The Brazilian partnership builds on the two companies' thermal engine joint venture headquartered in London and their jointly owned manufacturing plant in South Korea.
Yahoo
10 hours ago
- Automotive
- Yahoo
Geely to hold 26.4% stake in Brazilian JV majority-owned by Renault
BEIJING (Reuters) -China's Geely said on Friday it and its parent Geely Holding would take a combined 26.4% stake in a joint venture controlled by its French partner Renault as the two seek to produce and sell cars jointly in Brazil. The two automakers have entered an agreement that would see Renault take 73.57% in the venture that would focus on producing and distributing cars in Brazil under the Renault and Geely brands. It is also due to make and distribute light commercial vehicles under the Renault brand to "attract new customers", according to a filing by Geely Auto. The deal is subject to regulatory approvals, the company said. Geely and Renault first announced their partnership to produce and sell zero- and low-emission vehicles in Brazil in February. The Brazilian partnership builds on the two companies' thermal engine joint venture headquartered in London and their jointly owned manufacturing plant in South Korea.
Reuters
10 hours ago
- Automotive
- Reuters
Geely to hold 26.4% stake in Brazilian JV majority-owned by Renault
BEIJING, June 20 (Reuters) - China's Geely ( opens new tab said on Friday it and its parent Geely Holding ( would take a combined 26.4% stake in a joint venture controlled by its French partner Renault ( opens new tab as the two seek to produce and sell cars jointly in Brazil. The two automakers have entered an agreement that would see Renault take 73.57% in the venture that would focus on producing and distributing cars in Brazil under the Renault and Geely brands. It is also due to make and distribute light commercial vehicles under the Renault brand to "attract new customers", according to a filing by Geely Auto. The deal is subject to regulatory approvals, the company said. Geely and Renault first announced their partnership to produce and sell zero- and low-emission vehicles in Brazil in February. The Brazilian partnership builds on the two companies' thermal engine joint venture headquartered in London and their jointly owned manufacturing plant in South Korea.
TimesLIVE
09-06-2025
- Automotive
- TimesLIVE
Geely chair says global car industry faces ‘serious over capacity'
Geely's chair and founder Li Shufu said on Saturday the global automotive industry was facing "serious over capacity" and the Chinese carmaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns many automotive brands including Geely, Zeekr and Volvo. His comments come as the Chinese car industry, the world's largest, has been locked in a brutal price war that is forcing many players to look to markets abroad and has prompted Chinese regulators to call for a halt. Chinese carmakers that have been building plants abroad include BYD, Chery and Great Wall Motor. Geely is planning to use French carmaker Renault's existing production facilities in Brazil and take a minority stake in Renault's business in the Latin American country, according to an announcement it made in February.
Business Times
08-06-2025
- Automotive
- Business Times
Geely chairman says global auto industry faces ‘serious overcapacity'
[SHANGHAI] Geely's chairman and founder Li Shufu said on Saturday (Jun 7) that the global automotive industry was facing 'serious overcapacity' and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns multiple automotive brands including Geely Auto, Zeekr and Volvo. His comments come as the Chinese auto industry, the world's largest, has been locked in a brutal price war that is forcing many players to look to markets abroad and has prompted Chinese regulators to call for a halt. Chinese automakers that have been building plants abroad include BYD, Chery Auto and Great Wall Motor. Geely is planning to use French automaker Renault's existing production facilities in Brazil and take a minority stake in Renault's business in the Latin American country, according to an announcement it made in February. Reuters reported in April, citing sources, that Chinese regulators had delayed approval for that. Geely said in response at the time that its cooperation with Renault in Brazil had been successful. REUTERS
