|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||8.64|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Chinese owner of Lotus plans to start producing the British sports car brand in China for the first time with the opening of a new 9 billion yuan ($1.3 billion) factory in Wuhan city, company job advertisements and government documents showed. Laura Frykberg reports.
Chinese-owned Volvo Cars reported a fall in 2018 profit margins as a prolonged trade war between Washington and Beijing pushed up costs and resulted in pricing pressure in its main market China. The Swedish carmaker, owned by China's Geely, will increase volumes and cut operational costs to try to offset the impact on margins that is expected to persist this year, CEO Hakan Samuelsson told Reuters. "We have a very, very strong product offering and a modest market share outside Sweden, so we are expecting and planning for further growth," Samuelsson said.
FRANKFURT/STOCKHOLM (Reuters) - Volvo Cars, owned by China's Geely , could in future seek external investors for its Polestar performance electric car brand and list the unit on the stock market but has no immediate plans to do so, the company said on Thursday. Germany's Capital magazine had earlier quoted Volvo Chief Executive Hakan Samuelsson as saying that Polestar could tap financial investors to help stem the costs of developing new electric powertrains as a precursor to listing.
Volvo Cars, which is owned by China's Zhejiang Geely Holding Group [GEELY.UL], is voluntarily recalling about 200,000 cars after it found an engineering issue that could potentially cause fuel leakage in the engine compartment over time. The group said its probe had identified that some vehicles may have small cracks inside one of the fuel lines in the engine compartment, which along with a pressurized fuel system may over time lead to fuel leakage in the engine compartment. About 219,000 cars of 11 different models produced in 2015 and 2016 had been affected, the Swedish company said, with the highest number of impacted cars in Sweden, the UK and Germany.
BEIJING/SHANGHAI (Reuters) - The Chinese owner of Lotus plans to start producing the British sports car brand in China for the first time with the opening of a new 9 billion yuan ($1.3 billion) factory in Wuhan city, company job advertisements and government documents showed. The previously unreported plans are Zhejiang Geely Holding Group's [GEELY.UL] first move to shake up the British brand since its purchase of a majority stake in 2017. The move is in line with Geely's ambitions to build more up-market cars and throw off its reputation for copycat designs and shoddy quality.
BEIJING/SHANGHAI (Reuters) - China's Geely Group [GEELY.UL] said it has not sold any shares in Daimler AG (DAIGn.DE), denying a Bloomberg report that the Chinese firm had slashed its 9.7 percent stake in the German carmaker by more than half. "As a long-term investor, Zhejiang Geely Holding has not sold any shares. The Daimler shareholding remains unchanged," a Hangzhou-based spokesman for Geely told Reuters on Friday.
Chinese billionaire Li Shufu's Geely Group cut its 9.7 percent stake in carmaker Daimler AG by more than half, Bloomberg reported on Friday, citing people familiar with the matter. Li had taken a 9.69 ...
STOCKHOLM/LOS ANGELES (Reuters) - Volvo Cars, owned by China's Geely, has no current plans to go for a stockmarket listing, its chief executive said, more than two months after the Swedish carmaker postponed its flotation blaming trade tensions and an automotive stocks downturn. Volvo and its parent had been working on an initial public offering, potentially valuing the carmaker at $16 billion to $30 billion. "There are no plans or time schedule for entering into the equity market," Chief Executive Hakan Samuelsson told Reuters on the sidelines of the Los Angeles Auto Show on Wednesday.
Volvo Cars has decided to delay building Lynk & Co branded cars at its plant at Ghent in Belgium because of increased macro-economic uncertainty, a spokesman for the Geely-owned [GEELY.UL] Swedish carmaker said on Friday. Lynk & Co, co-owned by Volvo's owner and its two brands Volvo and Geely Auto, began selling its first model in China last year. The vehicle is currently produced at a Volvo-operated plant in Taizho in China.
Chinese automaker Zhejiang Geely Holding Group [GEELY.UL] said on Tuesday it signed an agreement with China Aerospace Science and Industry Corp (CASIC) [SASAAI.UL] to jointly develop "supersonic" trains in the country. The strategic framework agreement aims to combine two technologies – magnetic levitation to eliminate ground friction, and vacuum tubes to reduce air resistance – to achieve a "hypersonic" mode of transportation, Geely said in a statement. China runs the world's longest high-speed rail line and is looking to build its own supersonic transport network.
Germany's Daimler (DAIGn.DE) is setting up a ride-hailing joint venture in China with Geely Group [GEELY.UL], in a sign the Chinese firm is making progress in its drive for closer relations with the maker of Mercedes-Benz cars. The deal creates a new competitor to Didi Chuxing, which currently dominates a Chinese ride-hailing market that has shown explosive growth in recent years, expanding from 30 million users in 2014 to 217 million in 2017, according to Bain & Co. The market is currently worth $23 billion, more than all other ride-hailing markets combined, and Didi accounts for 90 percent of all bookings, the consulting firm said.
BEIJING/SHANGHAI (Reuters) - Chinese carmaker Geely Automobile Holdings Ltd , long the subject of speculation about its political ties, has moved to dispel a widely held belief its chairman's wife was related to Chinese President Xi Jinping. The carmaker, which owns a major stake in Germany's Daimler and the firm that makes London black cabs, revealed in a filing the name of Chairman Li Shufu's spouse was Li Wang, and she jointly held 4.9 million shares in the firm. Chinese and international media have named Li's wife as Peng Lijuan, spurring speculation she was related to China's first lady, Peng Liyuan.
Daimler (DDAIF) is in discussion with Geely to form a joint venture in areas of ride-hailing and car-sharing services in China.
Li’s Zhejiang Geely Holding Group Co. is in talks with Daimler AG -- in which Li took an almost 10 percent stake earlier this year -- to set up ride-hailing and car-sharing services in China, according to people familiar with the matter. Under discussion is a 50-50 venture that would take on market leader Didi Chuxing, said one of the people, who asked not to be identified because the deliberations are confidential. The venture would target an expanding market for the new types of transport services that has been dominated so far by tech companies like Didi and Uber Technologies Inc. Automakers are scrambling to establish themselves in new technologies, as car-sharing and autonomous driving threaten to upend the traditional model of vehicle ownership.
The parent of Mercedes-Benz is in talks to form a Chinese ride-hailing and carsharing joint venture with Zhejiang Geely Holding Group Co., Bloomberg News reported Tuesday. The Chinese carmaker, headed by billionaire Li Shufu, became Daimler’s biggest shareholder in February. Daimler really doesn’t want to share key know-how with its largest investor, the Frankfurter Allgemeine Zeitung’s Sunday edition reported in March.
German vehicle manufacturer Daimler AG is in talks with China's Geely Holding Group Co to set up a joint venture to offer ride-hailing and car-sharing services in China, Bloomberg reported, citing sources. ...
Geely Automobile Holdings Limited (HKG:175) is a company with exceptional fundamental characteristics. Upon building up an investment case for a stock, we should look at various aspects. In the caseRead More...
BEIJING/PARIS (Reuters) - Volvo Cars and its Chinese owner Geely have postponed plans to float shares in the Swedish carmaker, blaming trade tensions and a downturn in automotive stocks. "We've come to the conclusion that the timing is not optimal for an IPO right now," Volvo Chief Executive Hakan Samuelsson told Reuters by telephone on Monday, confirming a decision which was first reported by the Financial Times. Volvo and its Chinese parent had been discussing an IPO to value the carmaker at between $16 billion and $30 billion, sources have previously said.
Toyota Motor Corp said on Thursday it is in talks with Chinese automaker Geely about cooperation in gasoline-electric hybrid vehicle technology, but nothing has been decided on the matter. The move comes as Japan's biggest automaker has been increasingly embracing new automotive technologies for future growth, and has also embarked on a strategy to ramp up sales in China, the world's biggest auto market. Toyota said in a statement to Reuters that it and Geely are currently "communicating with each other" about gasoline-electric hybrid technology.