|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||8.27|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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.
SHANGHAI—Daimler AG and Zhejiang Geely Holding Group Co. will form a premium ride-hailing company in China, using the German auto maker’s Mercedes-Benz cars and electric vehicles made by Geely, the companies said Wednesday. A partnership between the Chinese car maker and Daimler has looked likely ever since Geely Chairman Li Shufu amassed a 9.7% stake in Daimler in February, becoming its largest shareholder. Geely also owns Sweden’s Volvo Car Group.
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.
Volvo Cars presented a fully electric robo-taxi on Wednesday, as the Geely-owned Swedish company races to meet an ambitious target for driverless vehicle sales with its Uber supply deal on hold. Volvo, which is weighing a stock market listing, is trying to make headway in self-driving cars as a mid-size luxury player with more limited resources than a BMW or Audi. It expects autonomous cars to account for a third of sales by 2025, with fully electric cars claiming 50 percent.
China's Geely is building a new plant to produce a quarter of a million bigger-sized cars that will help meet a goal of selling more than 2 million vehicles by 2020 and power its growth, two people familiar with the matter said. Zhejiang Geely Holding Group Co [GEELY.UL], one of China's five biggest automakers, and the owner of Sweden's Volvo Cars, is building the facility in the eastern port city of Ningbo where it already operates an assembly plant, as per the sources and information from a Geely-owned construction bidding procurement website. The new capacity will enable Geely (HKSE:0175.HK - News) to produce roughly 250,000 more cars a year in Ningbo and add larger cars to its small-car-focused lineup, as well as ramp up launches at its new brand Lynk & Co.
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. Over the past 10 years, Geely Automobile HoldingsRead More...
Geely may not be directly hit by the ongoing trade tensions between the U.S. and China, but the Chinese automaker could still be hit in other ways if the dispute drags on, says its vice chairman and chief financial officer, Daniel Li. China's third-largest automaker announced a 54 percent year-over-year jump in net profit for the first half of 2018. Some analysts remain upbeat about the company's prospects even though Geely's stocks traded lower on Thursday morning.
Chinese automaker Geely has agreed to extend its existing partnership with Proton Holdings Berhad (Kuala Lumpur:1619.KL - News) to upgrade the Malaysia carmaker's line-up of cars and power Proton go beyond Malaysia, part of an ongoing effort to help Proton establish a presence in China and other international markets. In order to take Proton beyond Malaysia, Zhejiang Geely Holding Group [GEELY.UL] said in a statement on Saturday it will allow Proton to tap its green-car technology, as well as basic vehicle platform technologies which Geely has developed jointly with its wholly owned unit Volvo Cars of Sweden.
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